MARA (NASDAQ:MARA) Stock Price Up 4.4% - Here's What Happened

MARA Holdings, Inc. (NASDAQ:MARA - Get Free Report)'s share price was up 4.4% during mid-day trading on Tuesday . The stock traded as high as $15.08 and last traded at $14.99. Approximately 13,767,822 shares changed hands during mid-day trading, a decline of 69% from the average daily volume of 45,033,439 shares. The stock had previously closed at $14.36.

Wall Street Analyst Weigh In

A number of research firms recently commented on MARA. Needham & Company LLC reiterated a "hold" rating on shares of MARA in a research note on Thursday, February 27th. Piper Sandler lowered their price target on MARA from $30.00 to $23.00 and set an "overweight" rating on the stock in a research report on Monday, May 5th. Rosenblatt Securities upped their price objective on MARA from $17.00 to $20.00 and gave the company a "buy" rating in a report on Tuesday, May 27th. Barclays raised their target price on MARA from $14.00 to $16.00 and gave the company an "equal weight" rating in a research note on Monday, May 12th. Finally, HC Wainwright reiterated a "buy" rating and issued a $28.00 price target on shares of MARA in a research report on Thursday, April 24th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and five have given a buy rating to the company's stock. According to data from MarketBeat, MARA presently has an average rating of "Hold" and an average price target of $20.83.

MARA Price Performance

The stock has a 50-day moving average of $13.80 and a two-hundred day moving average of $16.79. The firm has a market cap of $5.51 billion, a price-to-earnings ratio of 19.84 and a beta of 6.82. 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 announced 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). The firm had revenue of $213.88 million during the quarter, compared to analyst estimates of $234.19 million. MARA had a negative return on equity of 8.40% and a net margin of 27.48%. The business's quarterly revenue was up 29.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.26 earnings per share. On average, analysts anticipate that MARA Holdings, Inc. will post -1.04 EPS for the current year.

Insiders Place Their Bets

In related news, Director Douglas K. Mellinger sold 3,000 shares of the stock in a transaction dated Friday, May 9th. The stock was sold at an average price of $16.00, for a total value of $48,000.00. Following the completion of the sale, the director now directly owns 176,859 shares of the company's stock, valued at approximately $2,829,744. This represents a 1.67% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Frederick G. Thiel sold 55,010 shares of MARA stock in a transaction dated Friday, May 9th. The shares were sold at an average price of $15.00, for a total value of $825,150.00. Following the transaction, the chief executive officer now directly owns 4,146,804 shares in the company, valued at approximately $62,202,060. This trade represents a 1.31% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 135,615 shares of company stock worth $2,067,284. Corporate insiders own 0.80% of the company's stock.

Institutional Investors Weigh In On MARA

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in MARA. Vanguard Group Inc. grew its holdings in shares of MARA by 2.7% during the 1st quarter. Vanguard Group Inc. now owns 39,811,453 shares of the business services provider's stock valued at $457,832,000 after acquiring an additional 1,028,512 shares in the last quarter. Geode Capital Management LLC grew its stake in MARA by 7.2% in the fourth quarter. Geode Capital Management LLC now owns 7,675,994 shares of the business services provider's stock valued at $128,755,000 after purchasing an additional 518,503 shares in the last quarter. American Century Companies Inc. increased 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 worth $72,334,000 after purchasing an additional 2,250,082 shares during the last quarter. Northern Trust Corp lifted its holdings in shares of MARA by 7.2% during the 1st quarter. Northern Trust Corp now owns 3,529,782 shares of the business services provider's stock valued at $40,592,000 after buying an additional 236,251 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of MARA by 9.7% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 3,322,618 shares of the business services provider's stock valued at $38,210,000 after buying an additional 294,161 shares in the last quarter. Hedge funds and other 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.