MARA (NASDAQ:MARA) Shares Down 2.2% - Here's Why

Key Points

• MARA shares fell 2.2% to $9.44, with trading volume down 55% from the average session.
• Analyst sentiment is mixed: the stock has an average rating of “Hold” and a consensus price target of $19.10, despite several “Buy” or “Outperform” ratings.
• The company reported a significant quarterly loss, missing EPS and revenue estimates, while revenue declined 26.7% year over year; insiders also sold more than $1.1 million of stock over the past three months.

MARA Holdings (NASDAQ:MARA - Get Free Report) shares dropped 2.2% during trading on Monday. The stock traded as low as $9.39 and last traded at $9.44. Approximately 20,611,795 shares changed hands during trading, a decline of 55% from the average session volume of 45,705,848 shares. The stock had previously closed at $9.65.

Wall Street Analysts Forecast Growth

MARA has been the topic of a number of research reports. Rosenblatt Securities restated a "buy" rating and issued a $15.00 price objective on shares of MARA in a report on Friday, August 7th. HC Wainwright assumed coverage on shares of MARA in a research note on Friday, September 11th. They set a "buy" rating and a $20.00 target price on the stock. Citizens Jmp assumed coverage on shares of MARA in a report on Wednesday, June 24th. They set a "market outperform" rating and a $24.00 target price for the company. Weiss Ratings upgraded shares of MARA from a "sell (d-)" rating to a "sell (d)" rating in a research report on Friday, August 21st. Finally, Piper Sandler reduced their target price on shares of MARA from $16.00 to $13.00 and set an "overweight" rating for the company in a research report on Friday, July 17th. Eight equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and three have given a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $19.10.

MARA Price Performance

The company has a debt-to-equity ratio of 1.15, a quick ratio of 0.89 and a current ratio of 0.89. The stock's 50 day simple moving average is $11.15 and its two-hundred day simple moving average is $11.78. The firm has a market capitalization of $3.65 billion, a PE ratio of -1.03 and a beta of 5.33.

MARA (NASDAQ:MARA - Get Free Report) last posted its quarterly earnings results on Thursday, August 6th. The business services provider reported ($1.60) EPS 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 company had revenue of $174.88 million during the quarter, compared to analyst estimates of $209.44 million. During the same period in the prior year, the business posted $1.84 EPS. MARA's revenue for the quarter was down 26.7% compared to the same quarter last year. On average, sell-side analysts forecast that MARA Holdings will post -1.65 EPS for the current year.

Insider Buying and Selling at MARA

In other news, CFO Salman Khan sold 16,000 shares of MARA stock in a transaction on Monday, August 17th. The stock was sold at an average price of $9.21, for a total transaction of $147,360.00. Following the transaction, the chief financial officer owned 377,066 shares in the company, valued at $3,472,777.86. The trade was a 4.07% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at 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 business's stock in a transaction dated Friday, August 21st. The shares were sold at an average price of $12.00, for a total transaction of $100,512.00. Following the transaction, 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 position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 106,891 shares of company stock worth $1,124,731 in the last three months. 0.97% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On MARA

Hedge funds have recently modified their holdings of the company. Everhart Financial Group Inc. purchased a new stake in MARA in the third quarter valued at $152,000. Moody National Bank Trust Division lifted its stake in shares of MARA by 19.4% in the 3rd quarter. Moody National Bank Trust Division now owns 159,737 shares of the business services provider's stock valued at $1,810,000 after purchasing an additional 25,962 shares during the last quarter. MassMutual Private Wealth & Trust FSB grew its holdings in shares of MARA by 58.2% during the 3rd quarter. MassMutual Private Wealth & Trust FSB now owns 4,009 shares of the business services provider's stock worth $45,000 after purchasing an additional 1,475 shares during the period. Sequoia Financial Advisors LLC purchased a new position in shares of MARA during the 2nd quarter worth $161,000. Finally, WINTON GROUP Ltd purchased a new position in shares of MARA during the 2nd quarter worth $3,545,000. Hedge funds and other institutional investors own 44.53% of the company's stock.

MARA Company Profile

MARA Holdings, Inc NASDAQ: MARA, formerly known as Marathon Digital Holdings, is a digital asset technology company focused primarily on mining bitcoin. The company operates specialized data centers containing application-specific integrated circuit (ASIC) computers that process transactions and secure the Bitcoin network in exchange for bitcoin rewards.

In addition to bitcoin mining, MARA develops and operates digital asset computing infrastructure. Its activities include managing energy and data-center resources, deploying mining hardware, and pursuing technologies designed to improve the efficiency and scalability of digital asset mining.

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