MARA (NASDAQ:MARA) Shares Up 5.8% - Should You Buy?

MARA Holdings (NASDAQ:MARA - Get Free Report) shares were up 5.8% during trading on Thursday . The company traded as high as $12.32 and last traded at $11.87. 59,611,183 shares changed hands during trading, an increase of 28% from the average daily volume of 46,460,438 shares. The stock had previously closed at $11.22.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. Rosenblatt Securities restated a "buy" rating and set a $15.00 price objective on shares of MARA in a research note on Friday, August 7th. Cantor Fitzgerald lowered their target price on shares of MARA from $14.00 to $12.00 and set an "overweight" rating on the stock in a research note on Friday, August 7th. BTIG Research reissued a "buy" rating and set a $27.00 target price on shares of MARA in a research note on Monday, June 1st. Citizens Jmp assumed coverage on shares of MARA in a research report on Wednesday, June 24th. They set a "market outperform" rating and a $24.00 price target on the stock. Finally, Piper Sandler reduced their price target on shares of MARA from $16.00 to $13.00 and set an "overweight" rating for the company in a research note on Friday, July 17th. Eight 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 stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $18.78.

MARA Stock Up 5.8%

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 has a 50 day moving average price of $11.87 and a 200 day moving average price of $11.07. The company has a market cap of $4.59 billion, a P/E ratio of -1.30 and a beta of 5.40.

MARA (NASDAQ:MARA - Get Free Report) last announced its 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). The firm had revenue of $174.88 million for the quarter, compared to the consensus estimate of $209.44 million. MARA had a negative net margin of 429.71% and a negative return on equity of 26.05%. The company's quarterly revenue was down 26.7% compared to the same quarter last year. During the same period in the prior year, the business earned $1.84 EPS. Research analysts expect that MARA Holdings will post -1.24 earnings per share for the current fiscal year.

Insider Buying and Selling at MARA

In other news, General Counsel Zabi Nowaid sold 8,376 shares of the firm'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 completion of the transaction, the general counsel owned 898,780 shares in the company, valued at approximately $10,785,360. This trade represents a 0.92% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Salman Hassan Khan sold 16,000 shares of MARA stock in a transaction that occurred 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 completion of the transaction, the chief financial officer directly owned 377,066 shares in the company, valued at $3,472,777.86. This represents a 4.07% 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 109,386 shares of company stock valued at $1,332,889 over the last 90 days. Insiders own 0.97% of the company's stock.

Institutional Investors Weigh In On MARA

Institutional investors and hedge funds have recently modified their holdings of the stock. Ascentis Independent Advisors acquired a new position in shares of MARA in the 1st quarter worth $28,000. Bogart Wealth LLC boosted its position in shares of MARA by 4,345.1% in the 1st quarter. Bogart Wealth LLC now owns 4,045 shares of the business services provider's stock valued at $33,000 after purchasing an additional 3,954 shares during the period. Eurizon Capital SGR S.p.A. acquired a new position in shares of MARA in the 4th quarter valued at $36,000. Hantz Financial Services Inc. increased its stake in MARA by 344.8% in the 4th quarter. Hantz Financial Services Inc. now owns 5,022 shares of the business services provider's stock worth $45,000 after purchasing an additional 3,893 shares in the last quarter. Finally, CoreCap Advisors LLC increased its stake in MARA by 128.0% in the 2nd quarter. CoreCap Advisors LLC now owns 3,651 shares of the business services provider's stock worth $51,000 after purchasing an additional 2,050 shares in the last quarter. Institutional investors and hedge funds own 44.53% of the company's stock.

About MARA

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