HC Wainwright Reaffirms “Buy” Rating for MARA (NASDAQ:MARA)

MARA (NASDAQ:MARA)‘s stock had its “buy” rating reiterated by analysts at HC Wainwright in a note issued to investors on Thursday,Benzinga reports. They currently have a $28.00 price target on the business services provider’s stock. HC Wainwright’s price objective indicates a potential upside of 101.15% from the stock’s current price.

Several other brokerages have also recently commented on MARA. Barclays began coverage on MARA in a research report on Monday, November 25th. They issued an “equal weight” rating and a $27.00 target price for the company. Piper Sandler began coverage on MARA in a research report on Tuesday, December 17th. They issued an “overweight” rating and a $34.00 target price for the company. Needham & Company LLC reaffirmed a “hold” rating on shares of MARA in a research report on Thursday. Compass Point cut MARA from a “buy” rating to a “neutral” rating and raised their target price for the stock from $21.00 to $25.00 in a research report on Thursday, November 21st. Finally, Macquarie upped their price target on shares of MARA from $22.00 to $29.00 and gave the stock an “outperform” rating in a research note on Monday, November 18th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $25.67.

MARA Trading Up 6.0 %

Shares of MARA stock opened at $13.92 on Thursday. The stock has a 50-day simple moving average of $17.64 and a 200 day simple moving average of $18.42. MARA has a fifty-two week low of $12.05 and a fifty-two week high of $30.71. The stock has a market capitalization of $4.72 billion, a P/E ratio of 17.62 and a beta of 5.76. 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 announced its earnings results on Wednesday, February 26th. The business services provider reported $1.24 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.32) by $1.56. The company had revenue of $214.39 million for the quarter, compared to analyst estimates of $187.11 million. MARA had a negative return on equity of 8.40% and a net margin of 27.48%. On average, sell-side analysts expect that MARA will post -1.04 earnings per share for the current fiscal year.

Insider Buying and Selling at MARA

In other news, CFO Salman Hassan Khan sold 16,700 shares of MARA stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $23.50, for a total value of $392,450.00. Following the transaction, the chief financial officer now owns 1,836,129 shares of the company’s stock, valued at $43,149,031.50. This trade represents a 0.90 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Frederick G. Thiel sold 27,505 shares of the business’s stock in a transaction on Thursday, January 16th. The stock was sold at an average price of $18.01, for a total transaction of $495,365.05. Following the completion of the sale, the chief executive officer now owns 4,100,585 shares of the company’s stock, valued at $73,851,535.85. The trade was a 0.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 101,215 shares of company stock worth $2,033,766 over the last three months. Corporate insiders own 0.80% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the company. Park Square Financial Group LLC bought a new position in MARA in the 4th quarter worth $27,000. United Advisor Group LLC raised its holdings in MARA by 64.5% in the 4th quarter. United Advisor Group LLC now owns 51,007 shares of the business services provider’s stock worth $855,000 after acquiring an additional 20,007 shares during the period. Mackenzie Financial Corp raised its holdings in MARA by 5.1% in the 4th quarter. Mackenzie Financial Corp now owns 18,125 shares of the business services provider’s stock worth $304,000 after acquiring an additional 878 shares during the period. Public Employees Retirement System of Ohio bought a new position in MARA in the 4th quarter worth $13,416,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in MARA by 33.7% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 579,408 shares of the business services provider’s stock valued at $9,717,000 after purchasing an additional 145,953 shares during the period. Institutional investors own 44.53% of the company’s stock.

MARA Company Profile

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.