MARA (NASDAQ:MARA) Shares Up 5.8% – Should You Buy?

MARA Holdings (NASDAQ:MARA) shares traded up 5.8% during trading on Thursday . The stock traded as high as $12.32 and last traded at $11.87. 59,611,183 shares changed hands during mid-day trading, an increase of 28% from the average daily volume of 46,460,438 shares. The stock had previously closed at $11.22.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. Cantor Fitzgerald cut their price target on shares of MARA from $14.00 to $12.00 and set an “overweight” rating on the stock in a report on Friday, August 7th. Weiss Ratings raised shares of MARA from a “sell (d-)” rating to a “sell (d)” rating in a research note on Friday, August 21st. Morgan Stanley lifted their price objective on shares of MARA from $5.50 to $6.00 and gave the stock an “underweight” rating in a research report on Thursday, August 13th. Piper Sandler cut their target price on shares of MARA from $16.00 to $13.00 and set an “overweight” rating on the stock in a research note on Friday, July 17th. Finally, BTIG Research restated a “buy” rating and issued a $27.00 target price on shares of MARA in a report on Monday, June 1st. Eight investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $18.78.

MARA Trading Up 5.8%

The company has a market cap of $4.59 billion, a PE ratio of -1.30 and a beta of 5.40. The company has a debt-to-equity ratio of 1.15, a quick ratio of 0.89 and a current ratio of 0.89. The company has a 50 day simple moving average of $11.87 and a two-hundred day simple moving average of $11.07.

MARA (NASDAQ:MARA) last posted its quarterly 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). The company had revenue of $174.88 million during the quarter, compared to analysts’ expectations of $209.44 million. MARA had a negative return on equity of 26.05% and a negative net margin of 429.71%.MARA’s revenue for the quarter was down 26.7% compared to the same quarter last year. During the same period last year, the company earned $1.84 earnings per share. Sell-side analysts forecast that MARA Holdings will post -1.24 EPS for the current year.

Insider Activity at MARA

In other MARA news, General Counsel Zabi Nowaid sold 8,376 shares of the stock in a transaction that occurred on Friday, August 21st. The shares were sold at an average price of $12.00, for a total value of $100,512.00. Following the completion of the sale, the general counsel owned 898,780 shares in the company, valued at $10,785,360. This represents a 0.92% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Salman Hassan 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 of the company’s stock, valued at $3,472,777.86. This trade represents a 4.07% 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 have sold 109,386 shares of company stock worth $1,332,889 in the last quarter. 0.97% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On MARA

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Ascentis Independent Advisors acquired a new position in MARA in the first quarter worth approximately $28,000. Bogart Wealth LLC lifted its stake in MARA by 4,345.1% in the first quarter. Bogart Wealth LLC now owns 4,045 shares of the business services provider’s stock valued at $33,000 after acquiring an additional 3,954 shares during the last quarter. Eurizon Capital SGR S.p.A. bought a new stake in MARA in the fourth quarter worth approximately $36,000. Hantz Financial Services Inc. increased its stake in shares of MARA by 344.8% during the 4th quarter. Hantz Financial Services Inc. now owns 5,022 shares of the business services provider’s stock worth $45,000 after purchasing an additional 3,893 shares during the last quarter. Finally, CoreCap Advisors LLC increased its stake in shares of MARA by 128.0% during the 2nd quarter. CoreCap Advisors LLC now owns 3,651 shares of the business services provider’s stock worth $51,000 after purchasing an additional 2,050 shares during the last quarter. 44.53% of the stock is owned by hedge funds and other institutional investors.

About MARA

MARA Holdings, Inc is an energy and digital infrastructure company whose core business is Bitcoin mining. Headquartered in Hallandale Beach, Florida, the company operates large-scale computing infrastructure designed to convert energy into high-value compute workloads.