MARA (NASDAQ:MARA) Shares Down 2.5% - Here's What Happened

Key Points

• MARA shares fell 2.5% to $11.31, with trading volume below average. The Bitcoin mining company has a $4.37 billion market capitalization and highly volatile beta of 5.32.
• MARA reported a significant quarterly loss of $1.60 per share, missing the $0.17 consensus estimate, while revenue of $174.88 million declined 26.7% year over year and fell short of expectations.
• Analyst sentiment remains a “Moderate Buy”, with a consensus price target of $18.78, although targets range widely from $6 to $27. Insiders have sold 109,386 shares worth approximately $1.33 million over the past 90 days.

MARA Holdings (NASDAQ:MARA - Get Free Report) dropped 2.5% on Friday . The company traded as low as $11.19 and last traded at $11.31. Approximately 37,007,222 shares were traded during trading, a decline of 20% from the average session volume of 46,187,984 shares. The stock had previously closed at $11.60.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the stock. BTIG Research reiterated a "buy" rating and set a $27.00 price target on shares of MARA in a research report on Monday, June 1st. Cantor Fitzgerald lowered their price objective on shares of MARA from $14.00 to $12.00 and set an "overweight" rating for the company in a report on Friday, August 7th. Rosenblatt Securities reaffirmed a "buy" rating and issued a $15.00 price objective on shares of MARA in a research note on Friday, August 7th. Weiss Ratings raised shares of MARA from a "sell (d-)" rating to a "sell (d)" rating in a report on Friday, August 21st. Finally, 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. Eight equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $18.78.

MARA Trading Down 2.5%

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 firm has a 50-day moving average of $11.46 and a 200-day moving average of $11.21. The firm has a market capitalization of $4.37 billion, a P/E ratio of -1.23 and a beta of 5.32.

MARA (NASDAQ:MARA - Get Free Report) last released its quarterly earnings data on Thursday, August 6th. The business services provider reported ($1.60) earnings per share for the quarter, missing analysts' consensus estimates 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 for the quarter, compared to analysts' expectations of $209.44 million. During the same period last year, the company posted $1.84 EPS. The business's revenue for the quarter was down 26.7% compared to the same quarter last year. On average, equities research analysts anticipate that MARA Holdings will post -1.24 EPS for the current fiscal year.

Insider Activity

In other MARA news, CFO Salman Khan sold 16,000 shares of the business's stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $9.21, for a total value of $147,360.00. Following the transaction, the chief financial officer owned 377,066 shares in the company, valued at approximately $3,472,777.86. The trade was a 4.07% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Douglas K. Mellinger sold 7,000 shares of the company's stock in a transaction dated Monday, June 22nd. The shares were 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 of the company's stock, valued at approximately $3,705,888. This trade represents a 2.93% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 109,386 shares of company stock worth $1,332,889. 0.97% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the business. CI Investments Inc. lifted its holdings in MARA by 7.6% in the 1st quarter. CI Investments Inc. now owns 13,520 shares of the business services provider's stock worth $110,000 after buying an additional 957 shares during the period. Integrated Wealth Concepts LLC increased its stake in shares of MARA by 9.8% during the first quarter. Integrated Wealth Concepts LLC now owns 11,073 shares of the business services provider's stock valued at $127,000 after buying an additional 991 shares during the period. Greenleaf Trust raised its holdings in shares of MARA by 9.9% during the second quarter. Greenleaf Trust now owns 11,915 shares of the business services provider's stock valued at $165,000 after acquiring an additional 1,076 shares in the last quarter. Evexia Wealth LLC raised its holdings in shares of MARA by 9.2% during the first quarter. Evexia Wealth LLC now owns 12,937 shares of the business services provider's stock valued at $106,000 after acquiring an additional 1,090 shares in the last quarter. Finally, Sigma Planning Corp lifted its stake in MARA by 12.4% in the fourth quarter. Sigma Planning Corp now owns 11,924 shares of the business services provider's stock worth $107,000 after acquiring an additional 1,320 shares during the period. Hedge funds and other institutional investors own 44.53% of the company's stock.

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.

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