MARA (NASDAQ:MARA) Shares Down 0.6% Following Analyst Downgrade

Shares of MARA Holdings, Inc. (NASDAQ:MARA - Get Free Report) traded down 0.6% during trading on Tuesday after Piper Sandler lowered their price target on the stock from $30.00 to $23.00. Piper Sandler currently has an overweight rating on the stock. MARA traded as low as $12.63 and last traded at $13.02. 9,131,859 shares changed hands during mid-day trading, a decline of 80% from the average session volume of 45,150,397 shares. The stock had previously closed at $13.09.

MARA has been the topic of several other reports. JPMorgan Chase & Co. dropped their price objective on MARA from $23.00 to $18.00 and set a "neutral" rating on the stock in a report on Thursday, March 13th. Rosenblatt Securities started coverage on MARA in a research note on Friday, March 7th. They set a "buy" rating and a $19.00 price objective for the company. HC Wainwright restated a "buy" rating and issued a $28.00 target price on shares of MARA in a research report on Thursday, April 24th. Barclays reduced their price objective on MARA from $27.00 to $14.00 and set an "equal weight" rating for the company in a research note on Monday, March 3rd. Finally, Needham & Company LLC reiterated a "hold" rating on shares of MARA in a research report on Thursday, February 27th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and five have assigned a buy rating to the company's stock. According to data from MarketBeat, MARA currently has an average rating of "Hold" and a consensus target price of $20.55.

Insiders Place Their Bets

In other MARA news, CFO Salman Hassan Khan sold 16,700 shares of MARA stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $15.31, for a total transaction of $255,677.00. Following the transaction, the chief financial officer now directly owns 1,773,788 shares of the company's stock, valued at $27,156,694.28. The trade was a 0.93 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Frederick G. Thiel sold 27,505 shares of MARA stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $16.68, for a total transaction of $458,783.40. Following the transaction, the chief executive officer now owns 3,910,843 shares in the company, valued at $65,232,861.24. The trade was a 0.70 % decrease in their position. The disclosure for this sale can be found here. 0.80% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On MARA

A number of large investors have recently added to or reduced their stakes in the company. Beacon Capital Management LLC purchased a new stake in shares of MARA during the fourth quarter worth about $26,000. Park Square Financial Group LLC purchased a new stake in MARA during the 4th quarter worth approximately $27,000. Sterling Capital Management LLC raised its position in shares of MARA by 358.3% in the 4th quarter. Sterling Capital Management LLC now owns 1,824 shares of the business services provider's stock valued at $31,000 after purchasing an additional 1,426 shares in the last quarter. Stonehage Fleming Financial Services Holdings Ltd grew its position in shares of MARA by 79.3% during the fourth quarter. Stonehage Fleming Financial Services Holdings Ltd now owns 1,945 shares of the business services provider's stock worth $33,000 after buying an additional 860 shares in the last quarter. Finally, Spire Wealth Management increased its stake in shares of MARA by 26.7% in the fourth quarter. Spire Wealth Management now owns 2,843 shares of the business services provider's stock worth $48,000 after buying an additional 599 shares during the last quarter. 44.53% of the stock is owned by institutional investors and hedge funds.

MARA Stock Performance

The company's fifty day simple moving average is $13.04 and its two-hundred day simple moving average is $17.36. The company has a market capitalization of $4.59 billion, a price-to-earnings ratio of 16.50 and a beta of 6.82. The company has a debt-to-equity ratio of 0.22, a quick ratio of 4.00 and a current ratio of 4.00.

MARA (NASDAQ:MARA - Get Free Report) last posted its earnings results on Wednesday, February 26th. The business services provider reported $1.24 EPS for the quarter, topping the consensus estimate of ($0.32) by $1.56. The firm had revenue of $214.39 million during the quarter, compared to analysts' expectations of $187.11 million. MARA had a net margin of 27.48% and a negative return on equity of 8.40%. Equities research analysts predict that MARA Holdings, Inc. will post -1.04 earnings per share for the current fiscal year.

MARA Company Profile

MARA Holdings, Inc operates as a digital asset technology company that mines digital assets with a focus on the bitcoin ecosystem in United States. The company was formerly known as Marathon Digital Holdings, Inc and changed its name to MARA Holdings, Inc in August 2024. MARA Holdings, Inc was incorporated in 2010 and is headquartered in Fort Lauderdale, Florida.

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