MARA Holdings, Inc. (NASDAQ:MARA - Get Free Report)'s stock price fell 1.8% on Thursday . The company traded as low as $15.61 and last traded at $16.06. 9,954,889 shares changed hands during mid-day trading, a decline of 78% from the average session volume of 44,964,998 shares. The stock had previously closed at $16.35.
Analyst Upgrades and Downgrades
Several equities analysts have issued reports on the stock. HC Wainwright reaffirmed a "buy" rating and issued a $28.00 price target on shares of MARA in a report on Thursday, April 24th. Needham & Company LLC restated a "hold" rating on shares of MARA in a research note on Thursday, February 27th. Rosenblatt Securities lifted their price objective on shares of MARA from $17.00 to $20.00 and gave the stock a "buy" rating in a research note on Tuesday, May 27th. Piper Sandler cut their target price on MARA from $30.00 to $23.00 and set an "overweight" rating on the stock in a research report on Monday, May 5th. Finally, JPMorgan Chase & Co. lifted their price target on MARA from $18.00 to $19.00 and gave the stock a "neutral" rating in a research report on Friday. 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's stock. According to data from MarketBeat, MARA currently has a consensus rating of "Hold" and an average price target of $20.94.
View Our Latest Research Report on MARA
MARA Price Performance
The firm has a 50-day simple moving average of $14.33 and a two-hundred day simple moving average of $16.50. The company has a market capitalization of $5.38 billion, a price-to-earnings ratio of 19.37 and a beta of 6.61. The company has a current ratio of 4.00, a quick ratio of 4.00 and a debt-to-equity ratio of 0.22.
MARA (NASDAQ:MARA - Get Free Report) last posted its earnings results on Thursday, May 8th. The business services provider reported ($0.40) 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 analyst estimates of $234.19 million. During the same period last year, the business earned $1.26 earnings per share. The firm's revenue was up 29.5% on a year-over-year basis. As a group, analysts predict that MARA Holdings, Inc. will post -1.04 earnings per share for the current fiscal year.
Insider Activity
In other news, CFO Salman Hassan Khan sold 16,700 shares of the company's stock in a transaction that occurred on Friday, May 16th. The stock was sold at an average price of $15.68, for a total transaction of $261,856.00. Following the completion of the transaction, the chief financial officer now directly owns 1,598,943 shares of the company's stock, valued at $25,071,426.24. This represents a 1.03% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Douglas K. Mellinger sold 3,000 shares of the stock in a transaction that occurred on Friday, May 9th. The shares were sold at an average price of $16.00, for a total value of $48,000.00. Following the transaction, the director now owns 176,859 shares in the company, valued at $2,829,744. This trade represents a 1.67% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 136,615 shares of company stock valued at $2,083,284 in the last three months. 0.80% of the stock is currently owned by corporate insiders.
Hedge Funds Weigh In On MARA
A number of large investors have recently added to or reduced their stakes in the stock. Beacon Capital Management LLC acquired a new stake in shares of MARA in the fourth quarter valued at about $26,000. Park Square Financial Group LLC acquired a new stake in MARA in the 4th quarter worth about $27,000. Sterling Capital Management LLC boosted its holdings in MARA by 358.3% in the 4th quarter. Sterling Capital Management LLC now owns 1,824 shares of the business services provider's stock worth $31,000 after buying an additional 1,426 shares during the last quarter. Brown Brothers Harriman & Co. purchased a new stake in MARA during the 4th quarter worth approximately $50,000. Finally, Blue Trust Inc. raised its holdings in shares of MARA by 415.6% during the fourth quarter. Blue Trust Inc. now owns 3,341 shares of the business services provider's stock valued at $56,000 after acquiring an additional 2,693 shares during the last quarter. 44.53% of the stock is currently owned by institutional investors and hedge funds.
About MARA
(
Get Free Report)
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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