MARA (NASDAQ:MARA) Trading Down 4% – Here’s Why

MARA Holdings (NASDAQ:MARA) shares traded down 4% during trading on Monday . The stock traded as low as $10.96 and last traded at $11.50. 52,728,261 shares were traded during trading, an increase of 14% from the average daily volume of 46,176,547 shares. The stock had previously closed at $11.98.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the company. Cantor Fitzgerald decreased 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. Weiss Ratings raised shares of MARA from a “sell (d-)” rating to a “sell (d)” rating in a report on Friday, August 21st. HC Wainwright began coverage on shares of MARA in a research report on Friday. They issued a “buy” rating and a $20.00 target price for the company. Citizens Jmp initiated coverage on shares of MARA in a research note on Wednesday, June 24th. They issued a “market outperform” rating and a $24.00 price target on the stock. Finally, BTIG Research restated a “buy” rating and set a $27.00 price target on shares of MARA in a research report on Monday, June 1st. Eight equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat.com, MARA presently has an average rating of “Hold” and a consensus target price of $18.70.

MARA Stock Performance

The stock has a market cap of $4.44 billion, a price-to-earnings ratio of -1.26 and a beta of 5.32. 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 firm has a fifty day moving average of $11.25 and a 200 day moving average of $11.37.

MARA (NASDAQ:MARA) last released 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 company had revenue of $174.88 million for the quarter, compared to analyst estimates of $209.44 million. MARA had a negative return on equity of 26.05% and a negative net margin of 429.71%.The business’s quarterly revenue was down 26.7% on a year-over-year basis. During the same period last year, the firm posted $1.84 EPS. As a group, sell-side analysts forecast that MARA Holdings will post -1.24 EPS for the current year.

Insider Buying and Selling

In other news, Director Douglas Mellinger sold 7,000 shares of the business’s stock in a transaction dated Monday, June 22nd. The shares were sold at an average price of $16.00, for a total transaction of $112,000.00. Following the transaction, the director owned 231,618 shares of the company’s stock, valued at approximately $3,705,888. The trade was a 2.93% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Frederick Thiel sold 27,505 shares of the company’s stock in a transaction dated Wednesday, June 17th. The shares were sold at an average price of $14.25, for a total transaction of $391,946.25. Following the completion of the sale, the chief executive officer directly owned 4,562,009 shares of the company’s stock, valued at $65,008,628.25. This represents a 0.60% 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 currently owned by insiders.

Institutional Trading of MARA

Hedge funds have recently made changes to their positions in the company. Ascentis Independent Advisors acquired a new stake in shares of MARA during the 1st quarter worth approximately $28,000. Bogart Wealth LLC lifted its holdings 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. IFP Advisors Inc lifted its holdings in MARA by 1,154.9% in the second quarter. IFP Advisors Inc now owns 2,422 shares of the business services provider’s stock valued at $34,000 after acquiring an additional 2,229 shares during the last quarter. Eurizon Capital SGR S.p.A. purchased a new position in MARA in the fourth quarter worth approximately $36,000. Finally, Hantz Financial Services Inc. grew its position 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 worth $45,000 after acquiring an additional 3,893 shares during the period. Hedge funds and other institutional investors 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.