Wall Street Zen Upgrades MARA (NASDAQ:MARA) to Sell

Key Points

• Wall Street Zen raised MARA’s rating from “strong sell” to “sell,” while MarketBeat’s analyst consensus remains “Hold” with an average price target of $16.
• MARA shares opened at $6.99, below their 50-day and 200-day moving averages. The stock has traded between $5.69 and $16.43 over the past 52 weeks.
• Quarterly results were mixed: earnings per share beat estimates, but revenue of $164.23 million came in below forecasts. Company insiders also sold a combined 134,396 shares over the last quarter.

MARA (NASDAQ:MARA - Get Free Report) was upgraded by equities research analysts at Wall Street Zen from a "strong sell" rating to a "sell" rating in a research report issued to clients and investors on Saturday, Wall Street Zen reports.

MARA has been the subject of a number of other research reports. Weiss Ratings raised MARA from a "sell (d-)" rating to a "sell (d)" rating in a research note on Tuesday. Morgan Stanley set a $10.00 target price on MARA and gave the company an "underweight" rating in a report on Friday, October 9th. Cantor Fitzgerald reduced their price target on MARA from $14.00 to $12.00 and set an "overweight" rating on the stock in a research report on Friday, August 7th. Compass Point reaffirmed a "buy" rating and issued a $20.00 price target on shares of MARA in a research note on Tuesday. Finally, Piper Sandler reiterated an "overweight" rating and issued a $11.00 price objective (down from $13.00) on shares of MARA in a research report on Tuesday, October 20th. Seven research 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.com, MARA presently has an average rating of "Hold" and an average price target of $16.00.

MARA Stock Performance

Shares of NASDAQ:MARA opened at $6.99 on Friday. The company's fifty day moving average is $9.52 and its 200 day moving average is $10.60. MARA has a 52 week low of $5.69 and a 52 week high of $16.43. The company has a current ratio of 2.31, a quick ratio of 0.89 and a debt-to-equity ratio of 1.13.

MARA (NASDAQ:MARA - Get Free Report) last posted its quarterly earnings results on Monday, November 9th. The business services provider reported $1.28 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.39) by $1.67. MARA had a negative net margin of 411.23% and a negative return on equity of 37.75%. The business had revenue of $164.23 million during the quarter, compared to analyst estimates of $183.24 million. As a group, equities research analysts predict that MARA will post -0.93 EPS for the current fiscal year.

Insider Activity at MARA

In other MARA news, CEO Frederick G. Thiel sold 27,505 shares of the business's stock in a transaction on Monday, November 2nd. The shares were sold at an average price of $6.79, for a total transaction of $186,758.95. Following the transaction, the chief executive officer directly owned 4,149,585 shares of the company's stock, valued at approximately $28,175,682.15. The trade was a 0.66% decrease in their position. The sale was disclosed in a document filed 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 company's stock in a transaction on Monday, August 17th. The stock was 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 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 SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 134,396 shares of company stock worth $1,311,490 over the last quarter. Corporate insiders own 0.97% of the company's stock.

Hedge Funds Weigh In On MARA

Several hedge funds and other institutional investors have recently modified their holdings of the stock. IFP Advisors Inc raised its stake 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 worth $34,000 after buying an additional 2,229 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. bought a new stake in MARA during the 3rd quarter valued at approximately $37,000. MassMutual Private Wealth & Trust FSB boosted its position in MARA by 58.2% during the 3rd quarter. MassMutual Private Wealth & Trust FSB now owns 4,009 shares of the business services provider's stock valued at $45,000 after acquiring an additional 1,475 shares in the last quarter. Activest Wealth Management boosted its position in MARA by 300.0% during the 3rd quarter. Activest Wealth Management now owns 4,000 shares of the business services provider's stock valued at $45,000 after acquiring an additional 3,000 shares in the last quarter. Finally, CoreCap Advisors LLC boosted its position in MARA by 128.0% during the 2nd quarter. CoreCap Advisors LLC now owns 3,651 shares of the business services provider's stock valued at $51,000 after acquiring an additional 2,050 shares in the last quarter. Hedge funds and other institutional investors own 44.53% of the company's stock.

Recent MARA Headlines

Here are a few of the latest headlines about MARA:

• Positive Sentiment: Compass Point initiated coverage with a Buy rating, adding fresh analyst support. MARA Stock Rated Buy in New Coverage at Compass Point
• Neutral Sentiment: Guggenheim assigned MARA a Neutral rating, signaling a more cautious view than the recent Buy recommendations. MARA Earns Neutral Rating from Guggenheim
• Negative Sentiment: Revenue declined 35% in the quarter, and the company’s AI data-center leases could be delayed into next year, tempering the outlook for its diversification plans. MARA Buyback and AI Lease Timing

MARA Company Profile

MARA Holdings, Inc., formerly known as Marathon Digital Holdings, is a digital energy and infrastructure company focused primarily on Bitcoin mining. It develops and operates data-center infrastructure and specialized computing systems used to validate transactions on the Bitcoin network and earn bitcoin rewards. The company also works on energy-related strategies to support its computing operations, including using energy sources and infrastructure that can help power data centers. Its operations are concentrated in the United States, with expansion into international markets.

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