MARA (NASDAQ:MARA) Trading Down 5% – Should You Sell?

MARA Holdings (NASDAQ:MARA)’s share price traded down 5% on Tuesday . The company traded as low as $10.15 and last traded at $10.23. Approximately 29,936,191 shares changed hands during trading, a decline of 35% from the average daily volume of 46,201,113 shares. The stock had previously closed at $10.77.

Analysts Set New Price Targets

Several analysts have recently issued reports on MARA shares. Weiss Ratings upgraded MARA from a “sell (d-)” rating to a “sell (d)” rating in a research note on Friday, August 21st. Rosenblatt Securities reissued a “buy” rating and set a $15.00 target price on shares of MARA in a research note on Friday, August 7th. Piper Sandler cut their price target on MARA from $16.00 to $13.00 and set an “overweight” rating on the stock in a report on Friday, July 17th. Citizens Jmp initiated coverage on MARA in a research report on Wednesday, June 24th. They issued a “market outperform” rating and a $24.00 price target on the stock. Finally, Morgan Stanley lifted their price objective on MARA from $5.50 to $6.00 and gave the company an “underweight” rating in a research note on Thursday, August 13th. Eight investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $18.78.

MARA Trading Down 5.0%

The company has a debt-to-equity ratio of 1.15, a current ratio of 0.89 and a quick ratio of 0.89. The business’s 50 day moving average is $11.67 and its 200 day moving average is $11.14. The stock has a market cap of $3.95 billion, a price-to-earnings ratio of -1.12 and a beta of 5.40.

MARA (NASDAQ:MARA) last posted its earnings results on Thursday, August 6th. The business services provider reported ($1.60) EPS for the quarter, missing the consensus estimate of $0.17 by ($1.77). The business 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% compared to the same quarter last year. During the same period last year, the company earned $1.84 EPS. As a group, equities analysts expect that MARA Holdings will post -1.24 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, General Counsel Zabi Nowaid sold 8,376 shares of the company’s stock in a transaction that occurred on Friday, August 21st. The stock was sold at an average price of $12.00, for a total value of $100,512.00. Following the completion of the transaction, the general counsel directly owned 898,780 shares of the company’s stock, valued at $10,785,360. This represents a 0.92% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, 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 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 transaction of $147,360.00. Following the completion of the transaction, the chief financial officer owned 377,066 shares in the company, valued at $3,472,777.86. This 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 sold a total of 109,386 shares of company stock worth $1,332,889 over the last 90 days. Insiders own 0.97% of the company’s stock.

Institutional Trading of MARA

Several institutional investors have recently modified their holdings of the stock. Ascentis Independent Advisors purchased a new position in shares of MARA in the 1st quarter valued at $28,000. Bogart Wealth LLC lifted its position 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. acquired a new position in MARA in the fourth quarter valued at $36,000. Hantz Financial Services Inc. boosted its stake in MARA by 344.8% in the fourth quarter. Hantz Financial Services Inc. now owns 5,022 shares of the business services provider’s stock valued at $45,000 after acquiring an additional 3,893 shares in the last quarter. Finally, CoreCap Advisors LLC grew its holdings in shares of MARA by 128.0% during the second 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. Hedge funds and other institutional investors own 44.53% of the company’s stock.

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.