MARA (NASDAQ:MARA) Trading 8.2% Higher After Analyst Upgrade

MARA Holdings, Inc. (NASDAQ:MARA - Get Free Report)'s stock price was up 8.2% on Tuesday after Rosenblatt Securities raised their price target on the stock from $17.00 to $20.00. Rosenblatt Securities currently has a buy rating on the stock. MARA traded as high as $15.84 and last traded at $15.93. Approximately 18,573,288 shares changed hands during trading, a decline of 59% from the average daily volume of 45,031,350 shares. The stock had previously closed at $14.73.

Other analysts have also recently issued reports about the company. HC Wainwright restated a "buy" rating and set a $28.00 price target on shares of MARA in a report on Thursday, April 24th. Barclays lifted their price objective on MARA from $14.00 to $16.00 and gave the stock an "equal weight" rating in a research note on Monday, May 12th. Piper Sandler cut their price objective on MARA from $30.00 to $23.00 and set an "overweight" rating on the stock in a research note on Monday, May 5th. Needham & Company LLC reaffirmed a "hold" rating on shares of MARA in a research note on Thursday, February 27th. Finally, JPMorgan Chase & Co. cut their price objective on MARA from $23.00 to $18.00 and set a "neutral" rating on the stock in a research note on Thursday, March 13th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $20.83.

Insider Activity

In other news, CFO Salman Hassan Khan sold 16,700 shares of the company's stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $15.31, for a total transaction of $255,677.00. Following the transaction, the chief financial officer now owns 1,773,788 shares of the company's stock, valued at $27,156,694.28. This represents a 0.93% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Frederick G. Thiel sold 27,505 shares of the company's stock in a transaction on Friday, May 16th. The shares were sold at an average price of $15.68, for a total value of $431,278.40. Following the transaction, the chief executive officer now directly owns 4,011,098 shares in the company, valued at $62,894,016.64. This represents a 0.68% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 152,315 shares of company stock valued at $2,322,961 in the last 90 days. Insiders own 0.80% of the company's stock.

Hedge Funds Weigh In On MARA

Institutional investors have recently added to or reduced their stakes in the business. Beacon Capital Management LLC bought a new position in shares of MARA during the 4th quarter valued at about $26,000. Park Square Financial Group LLC bought a new position in shares of MARA during the 4th quarter valued at about $27,000. Sterling Capital Management LLC increased its position in shares of MARA by 358.3% during 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 during the last quarter. Spire Wealth Management increased its position in shares of MARA by 26.7% during the 4th quarter. Spire Wealth Management now owns 2,843 shares of the business services provider's stock valued at $48,000 after purchasing an additional 599 shares during the last quarter. Finally, Brown Brothers Harriman & Co. bought a new position in shares of MARA during the 4th quarter valued at about $50,000. 44.53% of the stock is currently owned by institutional investors.

MARA Price Performance

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 stock has a market capitalization of $5.30 billion, a P/E ratio of 19.05 and a beta of 6.82. The firm has a 50-day moving average price of $13.70 and a 200 day moving average price of $17.06.

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