MARA (NASDAQ:MARA) Shares Up 5.2% - Here's Why

MARA Holdings, Inc. (NASDAQ:MARA - Get Free Report) rose 5.2% during mid-day trading on Wednesday . The company traded as high as $16.76 and last traded at $17.04. Approximately 20,730,756 shares changed hands during trading, a decline of 54% from the average daily volume of 44,779,041 shares. The stock had previously closed at $16.19.

Analysts Set New Price Targets

A number of research firms have weighed in on MARA. HC Wainwright reiterated a "buy" rating and set a $28.00 price objective on shares of MARA in a research note on Thursday, April 24th. Needham & Company LLC restated a "hold" rating on shares of MARA in a report on Thursday, February 27th. JPMorgan Chase & Co. lowered their target price on MARA from $23.00 to $18.00 and set a "neutral" rating on the stock in a report on Thursday, March 13th. Compass Point reissued a "sell" rating and issued a $9.50 price objective (down previously from $25.00) on shares of MARA in a report on Tuesday, May 6th. Finally, Piper Sandler cut their target price on MARA from $30.00 to $23.00 and set an "overweight" rating for the company in a research note on Monday, May 5th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $20.72.

MARA Stock Down 1.6%

The company has a debt-to-equity ratio of 0.22, a quick ratio of 4.00 and a current ratio of 4.00. The company has a market cap of $5.61 billion, a P/E ratio of 20.22 and a beta of 6.82. The business's fifty day moving average is $13.36 and its two-hundred day moving average is $17.16.

MARA (NASDAQ:MARA - Get Free Report) last released its quarterly earnings results on Thursday, May 8th. The business services provider reported ($0.40) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.34) by ($0.06). The firm had revenue of $213.88 million for the quarter, compared to analyst estimates of $234.19 million. MARA had a net margin of 27.48% and a negative return on equity of 8.40%. The firm's revenue was up 29.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.26 EPS. Equities analysts predict that MARA Holdings, Inc. will post -1.04 EPS for the current year.

Insider Buying and Selling

In other MARA news, CFO Salman Hassan Khan sold 16,700 shares of the business's stock in a transaction 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 sale, the chief financial officer now owns 1,773,788 shares of the company's stock, valued at approximately $27,156,694.28. The trade was a 0.93% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Douglas K. Mellinger sold 3,000 shares of the firm's stock in a transaction that occurred on Friday, May 9th. The stock was sold at an average price of $16.00, for a total transaction of $48,000.00. Following the sale, the director now owns 176,859 shares of the company's stock, valued at approximately $2,829,744. The trade was a 1.67% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 152,315 shares of company stock worth $2,322,961 in the last 90 days. Insiders own 0.80% of the company's stock.

Institutional Trading of MARA

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Intech Investment Management LLC raised its stake in shares of MARA by 14.5% in the first quarter. Intech Investment Management LLC now owns 160,717 shares of the business services provider's stock worth $1,848,000 after acquiring an additional 20,413 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in shares of MARA by 11.0% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 643,311 shares of the business services provider's stock valued at $7,398,000 after purchasing an additional 63,903 shares in the last quarter. United Services Automobile Association increased its position in MARA by 8.2% during the 1st quarter. United Services Automobile Association now owns 20,634 shares of the business services provider's stock valued at $257,000 after buying an additional 1,569 shares in the last quarter. Caxton Associates LLP bought a new position in shares of MARA during the 1st quarter valued at approximately $1,530,000. Finally, NewEdge Advisors LLC lifted its holdings in shares of MARA by 65.3% in the 1st quarter. NewEdge Advisors LLC now owns 7,672 shares of the business services provider's stock worth $88,000 after acquiring an additional 3,032 shares during the last quarter. Institutional investors and hedge funds own 44.53% of the company's stock.

About MARA

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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