MARA (NASDAQ:MARA) Trading 5.2% Higher - Time to Buy?

Shares of MARA Holdings, Inc. (NASDAQ:MARA - Get Free Report) were up 5.2% during mid-day trading on Friday . The company traded as high as $16.53 and last traded at $16.49. Approximately 15,473,049 shares changed hands during trading, a decline of 66% from the average daily volume of 44,879,904 shares. The stock had previously closed at $15.68.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on MARA shares. JPMorgan Chase & Co. cut their price objective on shares of MARA from $23.00 to $18.00 and set a "neutral" rating for the company in a research report on Thursday, March 13th. Barclays upped their target price on shares of MARA from $14.00 to $16.00 and gave the company an "equal weight" rating in a research report on Monday. Piper Sandler decreased their target price on shares of MARA from $30.00 to $23.00 and set an "overweight" rating on the stock in a research report on Monday, May 5th. Needham & Company LLC restated a "hold" rating on shares of MARA in a research report on Thursday, February 27th. Finally, Compass Point restated a "sell" rating and set a $9.50 target price (down from $25.00) on shares of MARA in a research report on Tuesday, May 6th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, MARA presently has a consensus rating of "Hold" and a consensus price target of $20.72.

MARA Price Performance

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 stock's 50 day simple moving average is $13.16 and its 200 day simple moving average is $17.19. The firm has a market capitalization of $5.71 billion, a P/E ratio of 20.53 and a beta of 6.82.

MARA (NASDAQ:MARA - Get Free Report) last released its quarterly earnings data on Thursday, May 8th. The business services provider reported ($0.40) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.34) by ($0.06). The business had revenue of $213.88 million for the quarter, compared to the consensus estimate of $234.19 million. MARA had a net margin of 27.48% and a negative return on equity of 8.40%. MARA's revenue for the quarter was up 29.5% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.26 earnings per share. As a group, analysts expect that MARA Holdings, Inc. will post -1.04 earnings per share for the current fiscal year.

Insider Activity at MARA

In other news, CEO Frederick G. Thiel sold 27,505 shares of the firm's stock in a transaction that occurred on Tuesday, February 18th. The shares were 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 of the company's stock, valued at $65,232,861.24. This trade represents a 0.70% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Salman Hassan Khan sold 16,700 shares of MARA stock in a transaction 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 completion of the sale, the chief financial officer now directly 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. Insiders sold 135,615 shares of company stock valued at $2,088,610 in the last three months. 0.80% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of MARA. NewEdge Advisors LLC grew its holdings in shares of MARA by 65.3% in the first quarter. NewEdge Advisors LLC now owns 7,672 shares of the business services provider's stock valued at $88,000 after purchasing an additional 3,032 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in MARA by 11.3% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,848,036 shares of the business services provider's stock worth $21,255,000 after acquiring an additional 186,904 shares during the period. Integrated Wealth Concepts LLC grew its holdings in MARA by 9.8% in the first quarter. Integrated Wealth Concepts LLC now owns 11,073 shares of the business services provider's stock valued at $127,000 after purchasing an additional 991 shares during the last quarter. Federation des caisses Desjardins du Quebec boosted its stake in shares of MARA by 161.8% during the first quarter. Federation des caisses Desjardins du Quebec now owns 95,667 shares of the business services provider's stock valued at $1,100,000 after acquiring an additional 59,130 shares during the last quarter. Finally, SRN Advisors LLC boosted its stake in shares of MARA by 16.1% during the first quarter. SRN Advisors LLC now owns 71,093 shares of the business services provider's stock valued at $818,000 after acquiring an additional 9,883 shares during the last quarter. Hedge funds and other institutional investors own 44.53% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.