MARA (NASDAQ:MARA) Trading 1.8% Higher – Here’s What Happened

Shares of MARA Holdings, Inc. (NASDAQ:MARA) were up 1.8% during mid-day trading on Tuesday . The company traded as high as $11.69 and last traded at $11.70. Approximately 11,628,358 shares were traded during mid-day trading, a decline of 74% from the average daily volume of 45,311,758 shares. The stock had previously closed at $11.50.

Analysts Set New Price Targets

A number of analysts have commented on the stock. Needham & Company LLC reaffirmed a “hold” rating on shares of MARA in a report on Thursday, February 27th. Barclays dropped their price objective on MARA from $27.00 to $14.00 and set an “equal weight” rating for the company in a report on Monday, March 3rd. B. Riley boosted their target price on MARA from $21.00 to $23.00 and gave the stock a “neutral” rating in a research report on Thursday, December 19th. Piper Sandler lowered their target price on shares of MARA from $34.00 to $30.00 and set an “overweight” rating for the company in a research note on Monday, March 3rd. Finally, HC Wainwright reissued a “buy” rating and set a $28.00 price target on shares of MARA in a research report on Thursday, February 27th. One analyst has rated the stock with a sell rating, six have issued a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $22.80.

MARA Trading Down 0.9 %

The firm has a market capitalization of $3.94 billion, a price-to-earnings ratio of 14.43 and a beta of 5.95. The business’s fifty day moving average is $15.35 and its 200 day moving average is $18.04. The company has a quick ratio of 4.00, a current ratio of 4.00 and a debt-to-equity ratio of 0.22.

MARA (NASDAQ:MARA) last released its quarterly earnings results on Wednesday, February 26th. The business services provider reported $1.24 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.32) by $1.56. The firm had revenue of $214.39 million for the quarter, compared to the consensus estimate of $187.11 million. MARA had a negative return on equity of 8.40% and a net margin of 27.48%. Equities analysts predict that MARA Holdings, Inc. will post -1.04 earnings per share for the current year.

Insider Activity

In related news, CFO Salman Hassan Khan sold 16,700 shares of the company’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $15.31, for a total value of $255,677.00. Following the transaction, the chief financial officer now owns 1,773,788 shares in the company, valued at approximately $27,156,694.28. This represents a 0.93 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Frederick G. Thiel sold 27,505 shares of the company’s stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $16.68, for a total value of $458,783.40. Following the completion of the transaction, the chief executive officer now directly owns 3,910,843 shares in the company, valued at $65,232,861.24. The trade was a 0.70 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 72,710 shares of company stock worth $1,226,825 in the last quarter. Corporate insiders own 0.80% of the company’s stock.

Institutional Investors Weigh In On MARA

Large investors have recently added to or reduced their stakes in the stock. Charles Schwab Investment Management Inc. grew its stake in MARA by 8.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,656,363 shares of the business services provider’s stock worth $43,086,000 after buying an additional 217,106 shares in the last quarter. Cerity Partners LLC boosted its position in shares of MARA by 97.4% during the 3rd quarter. Cerity Partners LLC now owns 26,816 shares of the business services provider’s stock worth $435,000 after acquiring an additional 13,232 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in MARA by 10.0% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 53,668 shares of the business services provider’s stock valued at $870,000 after acquiring an additional 4,895 shares during the last quarter. Captrust Financial Advisors acquired a new stake in shares of MARA in the 3rd quarter valued at $219,000. Finally, HighTower Advisors LLC boosted its holdings in shares of MARA by 9.2% in the 3rd quarter. HighTower Advisors LLC now owns 134,713 shares of the business services provider’s stock valued at $2,176,000 after purchasing an additional 11,360 shares in the last quarter. Institutional investors and hedge funds own 44.53% of the company’s stock.

About MARA

MARA Holdings, Inc operates as a digital asset technology company that mines digital assets with a focus on the bitcoin ecosystem in United States. The company was formerly known as Marathon Digital Holdings, Inc and changed its name to MARA Holdings, Inc in August 2024. MARA Holdings, Inc was incorporated in 2010 and is headquartered in Fort Lauderdale, Florida.