MARA (NASDAQ:MARA) Shares Down 2.4% – What’s Next?

MARA Holdings (NASDAQ:MARA) traded down 2.4% during trading on Thursday. The stock traded as low as $7.02 and last traded at $7.17. 33,902,852 shares traded hands during trading, a decline of 25% from the average session volume of 45,119,633 shares. The stock had previously closed at $7.35.

Analysts Set New Price Targets

Several research firms have recently commented on MARA. Rosenblatt Securities reiterated a “buy” rating and set a $15.00 price objective on shares of MARA in a research note on Friday, August 7th. Cantor Fitzgerald cut their price objective on shares of MARA from $14.00 to $12.00 and set an “overweight” rating for the company in a report on Friday, August 7th. Weiss Ratings cut MARA from a “sell (d)” rating to a “sell (d-)” rating in a research report on Friday, October 23rd. Piper Sandler reissued an “overweight” rating and issued a $11.00 target price (down from $13.00) on shares of MARA in a research note on Tuesday, October 20th. Finally, Morgan Stanley set a $10.00 target price on shares of MARA and gave the stock an “underweight” rating in a research note on Friday, October 9th. Seven equities research analysts have rated the stock with a Buy rating and three have issued a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $17.78.

MARA Stock Down 5.4%

The stock has a market cap of $2.62 billion, a price-to-earnings ratio of -0.74 and a beta of 5.33. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 1.15. The business’s fifty day moving average is $10.37 and its two-hundred day moving average is $10.79.

MARA (NASDAQ:MARA) last released its earnings results 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 company had revenue of $174.88 million during the quarter, compared to analysts’ expectations of $209.44 million. During the same quarter last year, the business posted $1.84 earnings per share. The company’s revenue for the quarter was down 26.7% on a year-over-year basis. Equities analysts forecast that MARA Holdings will post -1.65 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CFO Salman Khan sold 16,000 shares of MARA stock in a transaction on Monday, August 17th. The shares were sold at an average price of $9.21, for a total transaction of $147,360.00. Following the sale, the chief financial officer directly owned 377,066 shares in the company, valued at $3,472,777.86. This trade represents a 4.07% decrease in their position. The sale was disclosed in a legal filing 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, 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 in the company, valued at $10,785,360. This trade represents a 0.92% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 106,891 shares of company stock valued at $1,124,731 in the last ninety days. Insiders own 0.97% of the company’s stock.

Hedge Funds Weigh In On MARA

A number of hedge funds have recently modified their holdings of the business. Principal Financial Group Inc. increased its stake in shares of 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 acquiring an additional 35,978 shares during the period. Hsbc Holdings PLC increased its holdings in MARA by 11.5% in the first quarter. Hsbc Holdings PLC now owns 634,172 shares of the business services provider’s stock valued at $5,099,000 after buying an additional 65,220 shares in the last quarter. Delta Global Management LP purchased a new position in MARA in the first quarter valued at about $5,064,000. Compass Rose Asset Management LP purchased a new position in MARA in the first quarter valued at about $4,243,000. Finally, Compass Financial Management LLC increased its holdings in MARA by 3.1% in the third quarter. Compass Financial Management LLC now owns 445,280 shares of the business services provider’s stock valued at $5,045,000 after buying an additional 13,309 shares in the last quarter. 44.53% of the stock is currently owned by hedge funds and other institutional investors.

About MARA

MARA Holdings, Inc (NASDAQ: MARA), formerly known as Marathon Digital Holdings, is a digital asset mining and energy infrastructure company. Its primary business is securing the Bitcoin network by operating specialized computing equipment that validates transactions and earns Bitcoin rewards.

The company develops and operates data centers and digital asset computing infrastructure, while also pursuing strategies to access low-cost and surplus energy. MARA has expanded its operations through a combination of owned facilities, hosting arrangements and acquisitions, with activities spanning North America and other international markets.

The company was founded in 2010 as Marathon Patent Group and later shifted its focus toward cryptocurrency mining before adopting the Marathon Digital name.