MARA (NASDAQ:MARA) Stock Jumps 3.7% - What's Next?

Key Points

• MARA shares rose 3.7% to $7.35 in mid-day trading, with approximately 40.6 million shares changing hands.
• Analyst views remain mixed: seven analysts rate the stock a Buy and three rate it a Sell, resulting in a consensus Hold rating. Recent price targets range from $10 to $15, while the reported average target is $17.78.
• The company recently reported a significant quarterly loss of $1.60 per share, missed revenue expectations, and posted a 26.7% year-over-year revenue decline. Insiders have also sold $1.12 million of stock over the past 90 days.

Shares of MARA Holdings (NASDAQ:MARA - Get Free Report) rose 3.7% during mid-day trading on Wednesday. The company traded as high as $7.37 and last traded at $7.35. Approximately 40,640,879 shares changed hands during trading, a decline of 10% from the average daily volume of 45,156,219 shares. The stock had previously closed at $7.09.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on MARA. Cantor Fitzgerald lowered their price target 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. Morgan Stanley set a $10.00 price objective on shares of MARA and gave the stock an "underweight" rating in a research report on Friday, October 9th. Rosenblatt Securities reaffirmed a "buy" rating and set a $15.00 price objective on shares of MARA in a report on Friday, August 7th. Piper Sandler reiterated an "overweight" rating and issued a $11.00 price objective (down from $13.00) on shares of MARA in a research report on Tuesday, October 20th. Finally, Weiss Ratings cut MARA from a "sell (d)" rating to a "sell (d-)" rating in a research note on Friday. Seven equities research analysts have rated the stock with a Buy rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat, MARA has a consensus rating of "Hold" and an average target price of $17.78.

MARA Trading Up 3.7%

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 company has a market capitalization of $2.84 billion, a price-to-earnings ratio of -0.80 and a beta of 5.33. The business's 50-day simple moving average is $10.54 and its 200-day simple moving average is $10.84.

MARA (NASDAQ:MARA - Get Free Report) last issued its earnings results on Thursday, August 6th. The business services provider reported ($1.60) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.17 by ($1.77). The business had revenue of $174.88 million during 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 firm's revenue for the quarter was down 26.7% compared to the same quarter last year. During the same period last year, the business posted $1.84 EPS. On average, research analysts expect that MARA Holdings will post -1.65 earnings per share for the current fiscal year.

Insider Buying and Selling at MARA

In other MARA news, CFO Salman Khan sold 16,000 shares of the company's stock in a transaction on Monday, August 17th. The shares were 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 owned 377,066 shares in the company, valued at approximately $3,472,777.86. The trade was a 4.07% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Frederick G. Thiel sold 27,505 shares of the stock in a transaction on Thursday, October 1st. The shares were sold at an average price of $11.22, for a total value of $308,606.10. Following the completion of the transaction, the chief executive officer directly owned 4,217,586 shares in the company, valued at approximately $47,321,314.92. This trade represents a 0.65% 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. Over the last ninety days, insiders have sold 106,891 shares of company stock valued at $1,124,731. 0.97% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in MARA. Sage Rhino Capital LLC increased its holdings in MARA by 14.2% in the third quarter. Sage Rhino Capital LLC now owns 12,965 shares of the business services provider's stock valued at $147,000 after purchasing an additional 1,613 shares during the last quarter. Activest Wealth Management lifted its stake in MARA by 300.0% in the third quarter. Activest Wealth Management now owns 4,000 shares of the business services provider's stock valued at $45,000 after buying an additional 3,000 shares during the period. Everhart Financial Group Inc. bought a new position in MARA during the third quarter worth about $152,000. Moody National Bank Trust Division boosted its holdings in MARA by 19.4% during the third quarter. Moody National Bank Trust Division now owns 159,737 shares of the business services provider's stock worth $1,810,000 after buying an additional 25,962 shares during the last quarter. Finally, MassMutual Private Wealth & Trust FSB boosted its holdings in MARA by 58.2% during the third quarter. MassMutual Private Wealth & Trust FSB now owns 4,009 shares of the business services provider's stock worth $45,000 after buying an additional 1,475 shares during the last quarter. 44.53% of the stock is currently owned by 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.

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