MARA (NASDAQ:MARA) Shares Up 3.7% - Time to Buy?

Key Points

• MARA shares rose 3.7% to $7.09 in mid-day trading, although volume was about 18% below the average session level.
• Analyst sentiment is mixed: MARA has an average “Hold” rating, with seven Buy ratings and three Sell ratings, and a consensus price target of $17.78.
• The company reported a significant quarterly loss of $1.60 per share, missing estimates by $1.77, while revenue fell 26.7% year over year to $174.88 million; insiders sold $1.12 million of stock over the last 90 days.

MARA Holdings (NASDAQ:MARA - Get Free Report) shares shot up 3.7% during mid-day trading on Tuesday. The stock traded as high as $7.32 and last traded at $7.09. Approximately 37,169,831 shares were traded during trading, a decline of 18% from the average session volume of 45,193,914 shares. The stock had previously closed at $6.84.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. Morgan Stanley set a $10.00 target price on shares of MARA and gave the company an "underweight" rating in a research note on Friday, October 9th. HC Wainwright initiated coverage on shares of MARA in a research report on Friday, September 11th. They set a "buy" rating and a $20.00 price target for the company. JPMorgan Chase & Co. reiterated an "underweight" rating and issued a $11.00 price target (down from $13.00) on shares of MARA in a report on Monday, September 14th. Weiss Ratings lowered MARA from a "sell (d)" rating to a "sell (d-)" rating in a research report on Friday. Finally, Piper Sandler restated an "overweight" rating and set a $11.00 price objective (down from $13.00) on shares of MARA in a research note on Tuesday, October 20th. Seven research analysts have rated the stock with a Buy rating and three have issued a Sell rating to the stock. According to data from MarketBeat, MARA presently has an average rating of "Hold" and a consensus price target of $17.78.

MARA Stock Performance

The stock has a market cap of $2.74 billion, a PE ratio of -0.77 and a beta of 5.33. The stock has a fifty day simple moving average of $10.60 and a two-hundred day simple moving average of $10.85. The company has a debt-to-equity ratio of 1.15, a quick ratio of 0.89 and a current ratio of 0.89.

MARA (NASDAQ:MARA - Get Free Report) last posted its quarterly earnings data on Thursday, August 6th. The business services provider reported ($1.60) earnings per share (EPS) 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 firm had revenue of $174.88 million for the quarter, compared to analysts' expectations of $209.44 million. During the same quarter in the prior year, the business earned $1.84 EPS. The company's revenue for the quarter was down 26.7% on a year-over-year basis. Equities analysts anticipate that MARA Holdings will post -1.65 EPS for the current fiscal year.

Insider Buying and Selling at MARA

In other news, CFO Salman Khan sold 16,000 shares of the firm's stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $9.21, for a total transaction of $147,360.00. Following the completion of the sale, the chief financial officer directly owned 377,066 shares in the company, valued at $3,472,777.86. This trade represents a 4.07% decrease in their ownership of the stock. The sale 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 MARA 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 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 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 valued at $1,124,731 in the last ninety days. Insiders own 0.97% of the company's stock.

Institutional Investors Weigh In On MARA

Several hedge funds and other institutional investors have recently bought and sold shares of MARA. Principal Financial Group Inc. grew its position in shares of MARA by 2.0% during the first quarter. Principal Financial Group Inc. now owns 1,838,149 shares of the business services provider's stock worth $14,999,000 after buying an additional 35,978 shares in the last quarter. Hsbc Holdings PLC raised its holdings in MARA by 11.5% in the first quarter. Hsbc Holdings PLC now owns 634,172 shares of the business services provider's stock valued at $5,099,000 after acquiring an additional 65,220 shares in the last quarter. Delta Global Management LP acquired a new position in MARA during the 1st quarter worth $5,064,000. Compass Rose Asset Management LP acquired a new position in MARA during the 1st quarter worth $4,243,000. Finally, Headlands Technologies LLC increased its position in shares of MARA by 51.2% in the 2nd quarter. Headlands Technologies LLC now owns 444,756 shares of the business services provider's stock worth $6,178,000 after purchasing an additional 150,665 shares during the last quarter. 44.53% of the stock is currently owned by hedge funds and other institutional investors.

MARA Company Profile

MARA Holdings, Inc NASDAQ: MARA, formerly known as Marathon Digital Holdings, is a digital asset mining and energy infrastructure company. Its primary business is securing the Bitcoin network by operating specialized computing equipment that validates transactions and earns Bitcoin rewards.

The company develops and operates data centers and digital asset computing infrastructure, while also pursuing strategies to access low-cost and surplus energy. MARA has expanded its operations through a combination of owned facilities, hosting arrangements and acquisitions, with activities spanning North America and other international markets.

The company was founded in 2010 as Marathon Patent Group and later shifted its focus toward cryptocurrency mining before adopting the Marathon Digital name.

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.