MARA (NASDAQ:MARA) Shares Down 10.1% - Here's What Happened

Key Points

• MARA shares fell 10.1% to $10.67 in heavy mid-day trading, bringing the stock below its 50-day moving average. The company has a high beta of 5.40, reflecting substantial volatility.
• MARA’s latest quarterly results missed expectations, with a $1.60-per-share loss versus the expected $0.17 profit and revenue of $174.9 million versus estimates of $209.4 million. Revenue declined 26.7% year over year, while analysts expect a full-year loss.
• Analyst sentiment remains broadly positive, with a consensus “Moderate Buy” rating and an $18.78 target price, although price targets range widely. Insiders have sold 109,386 shares worth about $1.33 million over the past 90 days, while institutional investors own 44.53% of the stock.

Shares of MARA Holdings (NASDAQ:MARA - Get Free Report) traded down 10.1% on Friday . The company traded as low as $10.56 and last traded at $10.67. 41,704,857 shares changed hands during mid-day trading, a decline of 10% from the average daily volume of 46,434,316 shares. The stock had previously closed at $11.87.

Analyst Upgrades and Downgrades

Several research firms recently commented on MARA. Citizens Jmp assumed coverage on shares of MARA in a research report on Wednesday, June 24th. They issued a "market outperform" rating and a $24.00 price objective on the stock. Morgan Stanley lifted their target price on shares of MARA from $5.50 to $6.00 and gave the stock an "underweight" rating in a research report on Thursday, August 13th. BTIG Research reaffirmed a "buy" rating and issued a $27.00 price target on shares of MARA in a report on Monday, June 1st. Rosenblatt Securities reissued a "buy" rating and set a $15.00 price objective on shares of MARA in a research note on Friday, August 7th. Finally, Cantor Fitzgerald cut their price objective on MARA from $14.00 to $12.00 and set an "overweight" rating for the company in a research report on Friday, August 7th. Eight investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $18.78.

MARA Stock Down 10.1%

The firm's 50 day moving average is $11.82 and its 200-day moving average is $11.10. The firm has a market cap of $4.12 billion, a PE ratio of -1.16 and a beta of 5.40. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 1.15.

MARA (NASDAQ:MARA - Get Free Report) last issued its quarterly earnings results on Thursday, August 6th. The business services provider reported ($1.60) earnings per share for the quarter, missing the consensus estimate of $0.17 by ($1.77). MARA had a negative net margin of 429.71% and a negative return on equity of 26.05%. The business had revenue of $174.88 million during the quarter, compared to analyst estimates of $209.44 million. During the same quarter last year, the firm posted $1.84 earnings per share. The company's revenue was down 26.7% on a year-over-year basis. As a group, equities research analysts expect that MARA Holdings will post -1.24 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Douglas K. Mellinger sold 7,000 shares of the stock in a transaction dated Monday, June 22nd. The stock was sold at an average price of $16.00, for a total transaction of $112,000.00. Following the transaction, the director directly owned 231,618 shares in the company, valued at approximately $3,705,888. This represents a 2.93% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, General Counsel Zabi Nowaid sold 8,376 shares of the firm's stock in a transaction dated Friday, August 21st. The stock was sold at an average price of $12.00, for a total value of $100,512.00. Following the completion of the sale, the general counsel directly owned 898,780 shares in the company, valued at approximately $10,785,360. The trade was a 0.92% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 109,386 shares of company stock valued at $1,332,889. 0.97% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of MARA. Vanguard Group Inc. grew its holdings in MARA by 3.1% in the fourth quarter. Vanguard Group Inc. now owns 46,706,277 shares of the business services provider's stock valued at $419,422,000 after purchasing an additional 1,394,559 shares during the period. State Street Corp raised its stake in MARA by 1.4% during the second quarter. State Street Corp now owns 13,455,176 shares of the business services provider's stock worth $210,977,000 after purchasing an additional 191,380 shares during the period. UBS Group AG boosted its holdings in shares of MARA by 104.1% in the 3rd quarter. UBS Group AG now owns 12,098,686 shares of the business services provider's stock valued at $220,922,000 after purchasing an additional 6,172,110 shares during the last quarter. Marex Group plc boosted its holdings in shares of MARA by 2.6% in the 4th quarter. Marex Group plc now owns 10,137,713 shares of the business services provider's stock valued at $91,037,000 after purchasing an additional 259,210 shares during the last quarter. Finally, Geode Capital Management LLC grew its stake in shares of MARA by 2.6% during the 4th quarter. Geode Capital Management LLC now owns 9,957,766 shares of the business services provider's stock valued at $89,434,000 after buying an additional 251,674 shares during the period. 44.53% of the stock is currently owned by hedge funds and other institutional investors.

MARA Company Profile

MARA Holdings, Inc is an energy and digital infrastructure company whose core business is Bitcoin mining. Headquartered in Hallandale Beach, Florida, the company operates large-scale computing infrastructure designed to convert energy into high-value compute workloads.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source