MARA (NASDAQ:MARA) Stock Falls 1.1% - Here's What Happened

Key Points

• MARA shares fell 1.1% to $11.21 in midday trading, with volume 34% below the stock’s average session volume.
• Analyst sentiment is mixed: eight analysts rate MARA a Buy, one rates it Hold, and three rate it Sell. The consensus rating is Hold, with an average price target of $19.20.
• The company reported a significant quarterly loss, missing earnings and revenue expectations, while revenue declined 26.7% year over year. Insiders also sold 79,386 shares worth $816,125 over the past 90 days.

Shares of MARA Holdings (NASDAQ:MARA - Get Free Report) fell 1.1% on Thursday. The stock traded as low as $10.91 and last traded at $11.21. 30,230,171 shares traded hands during mid-day trading, a decline of 34% from the average session volume of 46,096,117 shares. The stock had previously closed at $11.33.

Wall Street Analysts Forecast Growth

MARA has been the subject of a number of analyst reports. Citizens Jmp began coverage on MARA in a report on Wednesday, June 24th. They set a "market outperform" rating and a $24.00 target price for the company. Rosenblatt Securities reissued a "buy" rating and set a $15.00 price objective on shares of MARA in a report on Friday, August 7th. 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. reissued an "underweight" rating and issued a $11.00 price objective (down from $13.00) on shares of MARA in a report on Monday, September 14th. Finally, Cantor Fitzgerald decreased their price objective on shares of 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, one has given a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat.com, MARA has a consensus rating of "Hold" and an average target price of $19.20.

MARA Stock Performance

The firm has a market cap of $4.33 billion, a PE ratio of -1.22 and a beta of 5.32. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 1.15. The firm has a fifty day moving average price of $11.28 and a 200 day moving average price of $11.70.

MARA (NASDAQ:MARA - Get Free Report) last released its quarterly earnings data on Thursday, August 6th. The business services provider reported ($1.60) EPS for the quarter, missing analysts' consensus estimates of $0.17 by ($1.77). The business had revenue of $174.88 million during the quarter, compared to analyst estimates 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 revenue was down 26.7% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.84 earnings per share. As a group, equities research analysts expect that MARA Holdings will post -1.65 earnings per share for the current fiscal year.

Insider Transactions at MARA

In other news, General Counsel Zabi Nowaid sold 8,376 shares of the firm's stock in a transaction on Friday, August 21st. The shares were 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. This trade represents a 0.92% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Frederick G. Thiel sold 27,505 shares of MARA stock in a transaction dated Thursday, September 17th. The stock was sold at an average price of $11.45, for a total value of $314,932.25. Following the sale, the chief executive officer directly owned 4,308,192 shares of the company's stock, valued at $49,328,798.40. This trade represents a 0.63% 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. Insiders sold a total of 79,386 shares of company stock worth $816,125 over the last ninety days. Company insiders own 0.97% of the company's stock.

Institutional Investors Weigh In On MARA

Large investors have recently modified their holdings of the stock. Ascentis Independent Advisors acquired a new position in MARA during the first quarter worth $28,000. Bogart Wealth LLC lifted its position in MARA by 4,345.1% during the first quarter. Bogart Wealth LLC now owns 4,045 shares of the business services provider's stock worth $33,000 after buying an additional 3,954 shares during the period. IFP Advisors Inc grew its stake in shares of MARA by 1,154.9% during the 2nd quarter. IFP Advisors Inc now owns 2,422 shares of the business services provider's stock valued at $34,000 after buying an additional 2,229 shares during the period. Eurizon Capital SGR S.p.A. acquired a new position in shares of MARA in the 4th quarter valued at about $36,000. Finally, Hantz Financial Services Inc. lifted its position in MARA by 344.8% during the fourth quarter. Hantz Financial Services Inc. now owns 5,022 shares of the business services provider's stock valued at $45,000 after buying an additional 3,893 shares in the last quarter. Hedge funds and other institutional investors own 44.53% of the company's stock.

About MARA

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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