MARA (NASDAQ:MARA) Stock Price Down 3.5% – Should You Sell?

MARA Holdings (NASDAQ:MARA) shares fell 3.5% on Monday. The stock traded as low as $12.09 and last traded at $12.11. 28,301,880 shares traded hands during mid-day trading, a decline of 39% from the average daily volume of 46,311,816 shares. The stock had previously closed at $12.55.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on MARA shares. JPMorgan Chase & Co. reissued 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. Piper Sandler lowered their price target on MARA from $16.00 to $13.00 and set an “overweight” rating for the company in a report on Friday, July 17th. Cantor Fitzgerald cut their price objective on MARA from $14.00 to $12.00 and set an “overweight” rating on the stock in a report on Friday, August 7th. Morgan Stanley reissued an “underweight” rating and set a $11.00 target price (up from $6.00) on shares of MARA in a research note on Friday, September 18th. Finally, Rosenblatt Securities reaffirmed a “buy” rating and issued a $15.00 price target on shares of MARA in a research note on Friday, August 7th. Eight investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat, MARA currently has an average rating of “Hold” and an average price target of $19.20.

MARA Trading Down 1.0%

The stock has a market cap of $4.63 billion, a price-to-earnings ratio of -1.31 and a beta of 5.32. The business has a 50-day simple moving average of $11.31 and a two-hundred day simple moving average of $11.68. The company has a debt-to-equity ratio of 1.15, a quick ratio of 0.89 and a current ratio of 0.89.

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

Insiders Place Their Bets

In related news, General Counsel Zabi Nowaid sold 8,376 shares of MARA stock in a transaction dated Friday, August 21st. The stock was sold at an average price of $12.00, for a total value of $100,512.00. Following the sale, the general counsel owned 898,780 shares of the company’s stock, valued at approximately $10,785,360. The trade was a 0.92% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Salman Khan sold 16,000 shares of the stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $9.21, for a total value of $147,360.00. Following the transaction, the chief financial officer directly owned 377,066 shares of the company’s stock, valued at $3,472,777.86. This trade represents a 4.07% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 79,386 shares of company stock valued at $816,125 in the last three months. 0.97% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On MARA

Several large investors have recently made changes to their positions in the stock. Quantinno Capital Management LP lifted its stake in MARA by 315.5% in the first quarter. Quantinno Capital Management LP now owns 166,571 shares of the business services provider’s stock valued at $1,359,000 after acquiring an additional 126,482 shares during the last quarter. WINTON GROUP Ltd bought a new stake in shares of MARA in the 2nd quarter valued at about $3,545,000. Edgestream Partners L.P. bought a new stake in shares of MARA in the 1st quarter valued at about $2,864,000. Compass Financial Management LLC acquired a new stake in MARA in the 2nd quarter valued at about $6,000,000. Finally, Hsbc Holdings PLC bought a new position in MARA during the fourth quarter worth about $5,220,000. Institutional investors and hedge funds own 44.53% of the company’s stock.

MARA Company Profile

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.