MARA (NASDAQ:MARA) Stock Price Up 1.1% After Analyst Upgrade

MARA Holdings, Inc. (NASDAQ:MARA - Get Free Report) was up 1.1% on Monday after JPMorgan Chase & Co. raised their price target on the stock from $18.00 to $19.00. JPMorgan Chase & Co. currently has a neutral rating on the stock. MARA traded as high as $15.54 and last traded at $15.20. Approximately 12,393,219 shares were traded during mid-day trading, a decline of 72% from the average daily volume of 45,029,851 shares. The stock had previously closed at $15.04.

Other equities research analysts also recently issued research reports about the company. Needham & Company LLC restated a "hold" rating on shares of MARA in a report on Thursday, February 27th. HC Wainwright reissued a "buy" rating and issued a $28.00 target price on shares of MARA in a research report on Thursday, April 24th. Compass Point reaffirmed a "sell" rating and issued a $9.50 target price (down from $25.00) on shares of MARA in a report on Tuesday, May 6th. Barclays boosted their target price on MARA from $14.00 to $16.00 and gave the company an "equal weight" rating in a report on Monday, May 12th. Finally, Rosenblatt Securities lifted their price objective on shares of MARA from $17.00 to $20.00 and gave the company a "buy" rating in a research report on Tuesday, May 27th. 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 stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $20.94.

Insider Transactions at MARA

In other news, Director Douglas K. Mellinger sold 3,000 shares of the firm's stock in a transaction dated Friday, May 9th. The stock was sold at an average price of $16.00, for a total transaction of $48,000.00. Following the completion of the sale, the director now directly owns 176,859 shares in the company, valued at $2,829,744. This trade represents a 1.67% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Salman Hassan Khan sold 34,733 shares of the firm's stock in a transaction that occurred on Thursday, June 12th. The stock was sold at an average price of $15.85, for a total transaction of $550,518.05. Following the sale, the chief financial officer now directly owns 1,413,298 shares of the company's stock, valued at $22,400,773.30. The trade was a 2.40% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 171,348 shares of company stock worth $2,633,802 over the last ninety days. 0.80% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On MARA

Several institutional investors have recently made changes to their positions in the stock. Norges Bank bought a new stake in shares of MARA during the fourth quarter valued at approximately $46,413,000. Vanguard Group Inc. lifted its holdings in MARA by 7.5% in the fourth quarter. Vanguard Group Inc. now owns 38,782,941 shares of the business services provider's stock worth $650,390,000 after purchasing an additional 2,706,271 shares during the period. American Century Companies Inc. grew its position in MARA by 55.7% in the 1st quarter. American Century Companies Inc. now owns 6,289,953 shares of the business services provider's stock valued at $72,334,000 after buying an additional 2,250,082 shares in the last quarter. Westfield Capital Management Co. LP acquired a new position in MARA during the 1st quarter valued at about $14,810,000. Finally, Price T Rowe Associates Inc. MD raised its position in shares of MARA by 192.4% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,897,200 shares of the business services provider's stock worth $31,817,000 after buying an additional 1,248,292 shares in the last quarter. 44.53% of the stock is owned by institutional investors.

MARA Trading Up 1.3%

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 capitalization of $5.36 billion, a price-to-earnings ratio of 19.28 and a beta of 6.61. The business's 50 day moving average price is $14.42 and its two-hundred day moving average price is $16.28.

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 for the quarter, missing analysts' consensus estimates 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 during the quarter, compared to analyst estimates of $234.19 million. During the same period last year, the company posted $1.26 earnings per share. The company's revenue was up 29.5% compared to the same quarter last year. Equities analysts forecast 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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