MARA (NASDAQ:MARA) Stock Price Down 6.2% - Time to Sell?

MARA Holdings, Inc. (NASDAQ:MARA - Get Free Report)'s share price was down 6.2% on Wednesday . The company traded as low as $13.05 and last traded at $13.34. Approximately 17,831,158 shares were traded during trading, a decline of 60% from the average daily volume of 44,989,445 shares. The stock had previously closed at $14.22.

Wall Street Analyst Weigh In

MARA has been the topic of a number of research analyst reports. Piper Sandler reduced their price target on MARA from $34.00 to $30.00 and set an "overweight" rating on the stock in a report on Monday, March 3rd. HC Wainwright reissued a "buy" rating and set a $28.00 target price on shares of MARA in a research note on Thursday, April 24th. Barclays dropped their price target 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. Needham & Company LLC reissued a "hold" rating on shares of MARA in a research report on Thursday, February 27th. Finally, Rosenblatt Securities initiated coverage on shares of MARA in a research report on Friday, March 7th. They issued a "buy" rating and a $19.00 target price for the company. One analyst has rated the stock with a sell rating, six have assigned a hold rating and five have issued a buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $22.80.

MARA Stock Up 4.6 %

The company has a debt-to-equity ratio of 0.22, a current ratio of 4.00 and a quick ratio of 4.00. The stock's 50 day simple moving average is $12.99 and its two-hundred day simple moving average is $17.42. The firm has a market cap of $5.08 billion, a P/E ratio of 18.70 and a beta of 6.10.

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

Insider Activity at MARA

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

Institutional Investors Weigh In On MARA

Several institutional investors have recently modified their holdings of MARA. Sigma Planning Corp bought a new position in MARA during the 1st quarter valued at about $122,000. CWM LLC lifted its position in MARA by 361.9% during the first quarter. CWM LLC now owns 14,360 shares of the business services provider's stock valued at $165,000 after purchasing an additional 11,251 shares during the period. Louisiana State Employees Retirement System grew its position in MARA by 2.7% in the 1st quarter. Louisiana State Employees Retirement System now owns 159,800 shares of the business services provider's stock worth $1,838,000 after purchasing an additional 4,200 shares during the period. Emerald Advisers LLC purchased a new stake in MARA during the 1st quarter valued at $3,757,000. Finally, New York State Common Retirement Fund lifted its holdings in shares of MARA by 24.9% during the 1st quarter. New York State Common Retirement Fund now owns 105,719 shares of the business services provider's stock valued at $1,216,000 after buying an additional 21,100 shares during the period. 44.53% of the stock is owned by hedge funds and other institutional investors.

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.