MARA (NASDAQ:MARA) Trading 5% Higher - Here's What Happened

MARA Holdings, Inc. (NASDAQ:MARA - Get Free Report)'s share price rose 5% during trading on Friday . The company traded as high as $14.87 and last traded at $14.76. Approximately 20,119,425 shares traded hands during trading, a decline of 55% from the average daily volume of 45,073,511 shares. The stock had previously closed at $14.05.

Analyst Upgrades and Downgrades

MARA has been the subject of several recent analyst reports. Needham & Company LLC reissued a "hold" rating on shares of MARA in a report on Thursday, February 27th. JPMorgan Chase & Co. decreased their price objective on shares of MARA from $23.00 to $18.00 and set a "neutral" rating on the stock in a report on Thursday, March 13th. Compass Point restated a "sell" rating and issued a $9.50 price target (down previously from $25.00) on shares of MARA in a research report on Tuesday. Piper Sandler dropped their price target on MARA from $30.00 to $23.00 and set an "overweight" rating for the company in a research report on Monday. Finally, Rosenblatt Securities initiated coverage on shares of MARA in a research note on Friday, March 7th. They set a "buy" rating and a $19.00 price objective on the stock. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and five have given a buy rating to the company. According to MarketBeat.com, MARA currently has an average rating of "Hold" and an average price target of $20.55.

MARA Trading Down 0.3 %

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 50-day simple moving average of $13.04 and a 200 day simple moving average of $17.36. The company has a market capitalization of $4.59 billion, a P/E ratio of 16.48 and a beta of 6.82.

MARA (NASDAQ:MARA - Get Free Report) last announced its quarterly earnings results on Wednesday, February 26th. The business services provider reported $1.24 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 during the quarter, compared to analysts' expectations of $187.11 million. Sell-side analysts expect that MARA Holdings, Inc. will post -1.04 earnings per share for the current year.

Insiders Place Their Bets

In related news, CEO Frederick G. Thiel sold 27,505 shares of the company's stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $16.68, for a total transaction of $458,783.40. Following the sale, the chief executive officer now owns 3,910,843 shares in the company, valued at approximately $65,232,861.24. This represents a 0.70 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, 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 value of $255,677.00. Following the completion of the sale, the chief financial officer now directly owns 1,773,788 shares of the company's stock, valued at approximately $27,156,694.28. The trade was a 0.93 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.80% of the company's stock.

Hedge Funds Weigh In On MARA

Several institutional investors and hedge funds have recently modified their holdings of the stock. Beacon Capital Management LLC bought a new stake in shares of MARA in the fourth quarter valued at about $26,000. Park Square Financial Group LLC acquired a new position in MARA in the 4th quarter valued at $27,000. Sterling Capital Management LLC lifted its position in shares of MARA by 358.3% during the 4th quarter. Sterling Capital Management LLC now owns 1,824 shares of the business services provider's stock valued at $31,000 after acquiring an additional 1,426 shares during the period. Stonehage Fleming Financial Services Holdings Ltd grew its holdings in shares of MARA by 79.3% during the 4th quarter. Stonehage Fleming Financial Services Holdings Ltd now owns 1,945 shares of the business services provider's stock worth $33,000 after purchasing an additional 860 shares in the last quarter. Finally, Spire Wealth Management increased its position in shares of MARA by 26.7% in the fourth quarter. Spire Wealth Management now owns 2,843 shares of the business services provider's stock worth $48,000 after purchasing an additional 599 shares during the period. 44.53% of the stock is currently owned by institutional investors and hedge funds.

About MARA

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.