MARA (NASDAQ:MARA) Trading Down 2.9% - Here's What Happened

MARA Holdings, Inc. (NASDAQ:MARA - Get Free Report) shares dropped 2.9% during trading on Tuesday . The stock traded as low as $14.63 and last traded at $14.88. Approximately 13,690,944 shares changed hands during trading, a decline of 70% from the average daily volume of 45,017,171 shares. The stock had previously closed at $15.32.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on MARA shares. Barclays upped their target price on MARA from $14.00 to $16.00 and gave the stock an "equal weight" rating in a research report on Monday, May 12th. Piper Sandler lowered their target price on shares of MARA from $30.00 to $23.00 and set an "overweight" rating on the stock in a research note on Monday, May 5th. JPMorgan Chase & Co. boosted their target price on shares of MARA from $18.00 to $19.00 and gave the company a "neutral" rating in a research note on Friday. Needham & Company LLC restated a "hold" rating on shares of MARA in a research report on Thursday, February 27th. Finally, HC Wainwright reissued a "buy" rating and issued a $28.00 price objective on shares of MARA in a research note on Thursday, April 24th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $20.94.

MARA Trading Down 5.8%

The stock has a market capitalization of $5.08 billion, a P/E ratio of 18.23 and a beta of 6.61. The company has a current ratio of 4.00, a quick ratio of 4.00 and a debt-to-equity ratio of 0.22. The business has a 50-day moving average price of $14.51 and a two-hundred day moving average price of $16.20.

MARA (NASDAQ:MARA - Get Free Report) last announced 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). MARA had a net margin of 27.48% and a negative return on equity of 8.40%. The firm had revenue of $213.88 million during the quarter, compared to the consensus estimate of $234.19 million. During the same period last year, the business earned $1.26 earnings per share. The business's revenue was up 29.5% compared to the same quarter last year. On average, analysts expect that MARA Holdings, Inc. will post -1.04 EPS for the current fiscal year.

Insider Activity at MARA

In other news, CEO Frederick G. Thiel sold 55,010 shares of the stock in a transaction on Friday, May 9th. The shares were sold at an average price of $15.00, for a total transaction of $825,150.00. Following the completion of the sale, the chief executive officer now directly owns 4,146,804 shares in the company, valued at $62,202,060. This represents a 1.31% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Salman Hassan Khan sold 33,400 shares of the firm's stock in a transaction that occurred on Friday, May 9th. The stock was sold at an average price of $15.00, for a total transaction of $501,000.00. Following the sale, the chief financial officer now directly owns 1,680,971 shares of the company's stock, valued at approximately $25,214,565. This trade represents a 1.95% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 171,348 shares of company stock valued at $2,633,802 over the last ninety days. 0.80% of the stock is owned by corporate insiders.

Institutional Trading of MARA

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Vontobel Holding Ltd. boosted its stake in MARA by 155.3% during the 4th quarter. Vontobel Holding Ltd. now owns 110,312 shares of the business services provider's stock valued at $1,850,000 after purchasing an additional 67,109 shares during the last quarter. New York State Teachers Retirement System boosted its position in shares of MARA by 0.5% during the fourth quarter. New York State Teachers Retirement System now owns 277,256 shares of the business services provider's stock valued at $4,650,000 after buying an additional 1,299 shares during the last quarter. Blue Trust Inc. grew its holdings in MARA by 415.6% during the fourth quarter. Blue Trust Inc. now owns 3,341 shares of the business services provider's stock worth $56,000 after buying an additional 2,693 shares in the last quarter. Rhumbline Advisers lifted its position in shares of MARA by 6.6% during the fourth quarter. Rhumbline Advisers now owns 834,057 shares of the business services provider's stock valued at $13,987,000 after purchasing an additional 51,643 shares in the last quarter. Finally, Beacon Capital Management LLC bought a new position in shares of MARA during the 4th quarter worth approximately $26,000. 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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