MARA (NASDAQ:MARA) Trading Down 7.9% - What's Next?

MARA Holdings, Inc. (NASDAQ:MARA - Get Free Report) fell 7.9% during trading on Wednesday . The stock traded as low as $15.10 and last traded at $15.14. 20,043,235 shares were traded during mid-day trading, a decline of 56% from the average session volume of 45,113,551 shares. The stock had previously closed at $16.44.

Analyst Ratings Changes

A number of brokerages recently issued reports on MARA. JPMorgan Chase & Co. dropped their price objective on shares of MARA from $23.00 to $18.00 and set a "neutral" rating for the company in a report on Thursday, March 13th. Needham & Company LLC restated a "hold" rating on shares of MARA in a research report on Thursday, February 27th. Piper Sandler reduced their target price on MARA from $30.00 to $23.00 and set an "overweight" rating for the company in a report on Monday, May 5th. Rosenblatt Securities boosted their target price on MARA from $17.00 to $20.00 and gave the stock a "buy" rating in a report on Tuesday. Finally, Barclays upped their price target on MARA from $14.00 to $16.00 and gave the company an "equal weight" rating in a research report on Monday, May 12th. One investment 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. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $20.83.

MARA Stock Performance

The company has a 50 day simple moving average of $13.70 and a 200 day simple moving average of $16.99. The company has a quick ratio of 4.00, a current ratio of 4.00 and a debt-to-equity ratio of 0.22. The stock has a market cap of $5.06 billion, a price-to-earnings ratio of 18.23 and a beta of 6.82.

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

Insider Activity

In related news, Director Douglas K. Mellinger sold 3,000 shares of MARA stock in a transaction that occurred on Friday, May 9th. The stock was sold at an average price of $16.00, for a total transaction of $48,000.00. Following the sale, the director now owns 176,859 shares of the company's stock, valued at approximately $2,829,744. This trade represents a 1.67% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Frederick G. Thiel sold 55,010 shares of the business's stock in a transaction on 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 owns 4,146,804 shares of the company's stock, valued at approximately $62,202,060. The trade was a 1.31% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 152,315 shares of company stock valued at $2,322,961. Company insiders own 0.80% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in shares of MARA in the fourth quarter valued at approximately $46,413,000. Vanguard Group Inc. raised its stake in shares of MARA by 7.5% in the 4th quarter. Vanguard Group Inc. now owns 38,782,941 shares of the business services provider's stock valued at $650,390,000 after acquiring an additional 2,706,271 shares during the period. American Century Companies Inc. raised its stake in shares of 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 valued at $72,334,000 after acquiring an additional 2,250,082 shares during the period. Westfield Capital Management Co. LP purchased a new position in shares of MARA in the 1st quarter valued at $14,810,000. Finally, Price T Rowe Associates Inc. MD increased 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 buying an additional 1,248,292 shares during the period. 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.