MARA (NASDAQ:MARA) Trading 2.6% Higher – Should You Buy?

MARA Holdings (NASDAQ:MARAGet Free Report) shot up 2.6% during trading on Tuesday . The company traded as high as $13.97 and last traded at $13.63. Approximately 43,266,680 shares traded hands during mid-day trading, a decline of 7% from the average session volume of 46,557,973 shares. The stock had previously closed at $13.28.

MARA News Summary

Here are the key news stories impacting MARA this week:

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the stock. HC Wainwright assumed coverage on shares of MARA in a research note on Friday, September 11th. They set a “buy” rating and a $20.00 price objective for the company. Morgan Stanley reiterated an “underweight” rating and set a $11.00 target price (up from $6.00) on shares of MARA in a research report on Friday. JPMorgan Chase & Co. reiterated an “underweight” rating and issued a $11.00 price target (down from $13.00) on shares of MARA in a report on Monday, September 14th. Citizens Jmp initiated coverage on shares of MARA in a research report on Wednesday, June 24th. They set a “market outperform” rating and a $24.00 target price for the company. Finally, Piper Sandler lowered their target price on MARA from $16.00 to $13.00 and set an “overweight” rating for the company in a research note on Friday, July 17th. Eight analysts have rated the stock with a Buy rating, one has assigned a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $19.20.

View Our Latest Research Report on MARA

MARA Price Performance

The stock has a market cap of $5.27 billion, a PE ratio of -1.49 and a beta of 5.32. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 1.15. The company’s 50 day moving average is $11.18 and its 200-day moving average is $11.51.

MARA (NASDAQ:MARAGet Free Report) last posted its quarterly earnings data on Thursday, August 6th. The business services provider reported ($1.60) earnings per share for the quarter, missing analysts’ consensus estimates of $0.17 by ($1.77). The firm had revenue of $174.88 million during the quarter, compared to analysts’ expectations of $209.44 million. MARA had a negative net margin of 429.71% and a negative return on equity of 26.05%. The business’s quarterly revenue was down 26.7% on a year-over-year basis. During the same period in the previous year, the company earned $1.84 earnings per share. As a group, sell-side analysts predict that MARA Holdings will post -1.65 earnings per share for the current year.

Insiders Place Their Bets

In other MARA news, General Counsel Zabi Nowaid sold 8,376 shares of MARA stock in a transaction that occurred on Friday, August 21st. The stock was sold at an average price of $12.00, for a total transaction of $100,512.00. Following the sale, the general counsel directly owned 898,780 shares in the company, valued at $10,785,360. The trade was a 0.92% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Frederick Thiel sold 27,505 shares of the stock in a transaction that occurred on Thursday, September 17th. The shares were sold at an average price of $11.45, for a total value of $314,932.25. Following the transaction, the chief executive officer owned 4,308,192 shares of the company’s stock, valued at approximately $49,328,798.40. This trade represents a 0.63% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 79,386 shares of company stock worth $816,125 in the last three months. 0.97% of the stock is owned by insiders.

Hedge Funds Weigh In On MARA

A number of hedge funds have recently bought and sold shares of the company. Geode Capital Management LLC grew its position in shares of MARA by 2.6% in the 4th quarter. Geode Capital Management LLC now owns 9,957,766 shares of the business services provider’s stock worth $89,434,000 after acquiring an additional 251,674 shares in the last quarter. Norges Bank acquired a new stake in shares of MARA during the 4th quarter valued at approximately $39,492,000. Capital World Investors lifted its stake in MARA by 0.6% during the fourth quarter. Capital World Investors now owns 2,954,764 shares of the business services provider’s stock worth $26,534,000 after purchasing an additional 19,048 shares during the last quarter. Principal Financial Group Inc. lifted its stake in MARA by 2.0% during the first quarter. Principal Financial Group Inc. now owns 1,838,149 shares of the business services provider’s stock worth $14,999,000 after purchasing an additional 35,978 shares during the last quarter. Finally, Headlands Technologies LLC boosted its holdings in MARA by 51.2% in the second quarter. Headlands Technologies LLC now owns 444,756 shares of the business services provider’s stock worth $6,178,000 after purchasing an additional 150,665 shares during the period. 44.53% of the stock is currently owned by institutional investors and hedge funds.

About MARA

(Get Free Report)

MARA Holdings, Inc, formerly known as Marathon Digital Holdings, Inc, is a digital asset technology company focused primarily on mining bitcoin. The company operates and supports computing infrastructure designed to secure the Bitcoin network by processing transactions and earning bitcoin rewards.

MARA develops and deploys large-scale data center and energy infrastructure for digital asset mining. Its activities include operating mining facilities, managing specialized application-specific integrated circuit (ASIC) mining equipment, and pursuing energy and infrastructure solutions intended to support more efficient and scalable computing operations.

Further Reading

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