MARA (NASDAQ:MARA) Stock Price Up 2.1% - Here's Why

MARA Holdings, Inc. (NASDAQ:MARA - Get Free Report)'s share price traded up 2.1% on Wednesday . The stock traded as high as $13.59 and last traded at $13.42. 13,162,607 shares were traded during trading, a decline of 71% from the average session volume of 44,914,368 shares. The stock had previously closed at $13.15.

Analysts Set New Price Targets

A number of analysts have recently issued reports on MARA shares. Needham & Company LLC reaffirmed a "hold" rating on shares of MARA in a research report on Thursday, February 27th. Compass Point reiterated a "sell" rating and issued a $9.50 price target (down previously from $25.00) on shares of MARA in a research note on Tuesday. Rosenblatt Securities assumed coverage on MARA in a report on Friday, March 7th. They set a "buy" rating and a $19.00 price objective for the company. JPMorgan Chase & Co. dropped their price target on MARA from $23.00 to $18.00 and set a "neutral" rating for the company in a report on Thursday, March 13th. Finally, Barclays dropped their target price on MARA from $27.00 to $14.00 and set an "equal weight" rating for the company in a report on Monday, March 3rd. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $20.55.

MARA Stock Performance

The firm has a market cap of $4.69 billion, a PE ratio of 16.85 and a beta of 6.82. The company has a quick ratio of 4.00, a current ratio of 4.00 and a debt-to-equity ratio of 0.22. The company has a 50-day simple moving average of $13.04 and a two-hundred day simple moving average of $17.33.

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

Insider Buying and Selling at MARA

In related news, CEO Frederick G. Thiel sold 27,505 shares of the company'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 value of $458,783.40. Following the transaction, the chief executive officer now directly owns 3,910,843 shares of the company's stock, valued at approximately $65,232,861.24. This represents a 0.70 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Salman Hassan Khan sold 16,700 shares of the company's stock in a transaction dated Monday, March 3rd. The shares were 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 in the company, valued at $27,156,694.28. This represents a 0.93 % decrease in their position. The disclosure for this sale can be found here. 0.80% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the company. Maridea Wealth Management LLC grew its position in MARA by 94.3% during the first quarter. Maridea Wealth Management LLC now owns 107,244 shares of the business services provider's stock valued at $1,233,000 after buying an additional 52,057 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in MARA by 18.8% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 68,276 shares of the business services provider's stock worth $785,000 after purchasing an additional 10,811 shares during the period. KLP Kapitalforvaltning AS grew its holdings in MARA by 20.7% during the first quarter. KLP Kapitalforvaltning AS now owns 72,900 shares of the business services provider's stock valued at $838,000 after purchasing an additional 12,500 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in shares of MARA during the 1st quarter valued at about $2,555,000. Finally, WT Wealth Management raised its position in shares of MARA by 21.0% during the 1st quarter. WT Wealth Management now owns 12,126 shares of the business services provider's stock valued at $139,000 after purchasing an additional 2,105 shares during the period. Institutional investors own 44.53% of the company's stock.

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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