MARA (NASDAQ:MARA) Shares Down 1.9% - Here's What Happened

MARA Holdings, Inc. (NASDAQ:MARA - Get Free Report)'s stock price was down 1.9% during trading on Monday . The company traded as low as $13.77 and last traded at $14.03. Approximately 12,351,754 shares were traded during trading, a decline of 73% from the average daily volume of 45,035,790 shares. The stock had previously closed at $14.30.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on MARA shares. JPMorgan Chase & Co. dropped their price objective on MARA from $23.00 to $18.00 and set a "neutral" rating for the company in a research note on Thursday, March 13th. HC Wainwright restated a "buy" rating and issued a $28.00 price target on shares of MARA in a research note on Thursday, April 24th. Piper Sandler reduced their price objective on shares of MARA from $34.00 to $30.00 and set an "overweight" rating on the stock in a research report on Monday, March 3rd. Barclays cut their target price on shares of MARA from $27.00 to $14.00 and set an "equal weight" rating for the company in a research note on Monday, March 3rd. Finally, Needham & Company LLC reissued a "hold" rating on shares of MARA in a report on Thursday, February 27th. One analyst has rated the stock with a sell rating, six have given a hold rating and five have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $22.80.

MARA Trading Down 5.4 %

The company's fifty day simple moving average is $13.01 and its 200-day simple moving average is $17.47. The firm has a market capitalization of $4.65 billion, a PE ratio of 16.97 and a beta of 6.10. The company has a debt-to-equity ratio of 0.22, a current ratio of 4.00 and a quick ratio of 4.00.

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

Insider Activity

In other news, CEO Frederick G. Thiel sold 27,505 shares of the business'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 transaction of $458,783.40. Following the transaction, the chief executive officer now directly owns 3,910,843 shares in the company, valued at $65,232,861.24. The trade was a 0.70 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Salman Hassan Khan sold 16,700 shares of the company's stock in a transaction 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 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 ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.80% of the company's stock.

Institutional Investors Weigh In On MARA

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Norges Bank purchased a new stake in MARA in the 4th quarter valued at about $46,413,000. Vanguard Group Inc. grew its stake in shares of MARA by 7.5% in the fourth quarter. Vanguard Group Inc. now owns 38,782,941 shares of the business services provider's stock valued at $650,390,000 after buying an additional 2,706,271 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its stake in 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 acquiring an additional 1,248,292 shares in the last quarter. American Century Companies Inc. boosted its holdings in MARA by 44.3% during the 4th quarter. American Century Companies Inc. now owns 4,039,871 shares of the business services provider's stock valued at $67,749,000 after acquiring an additional 1,240,354 shares during the period. Finally, Public Employees Retirement System of Ohio acquired a new position in MARA in the 4th quarter valued at about $13,416,000. Institutional investors and hedge funds 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.