MARA (NASDAQ:MARA) Stock Price Down 1.8% - Time to Sell?

Key Points

• MARA shares fell 1.8% to $10.97 in Tuesday trading, with volume below its average. The stock has a market capitalization of approximately $4.24 billion and a highly volatile beta of 5.33.
• Analyst opinions are 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, although recent targets include JPMorgan’s $11 and Piper Sandler’s $13.
• The company reported a significant quarterly loss, missing EPS expectations by $1.77, while revenue fell 26.7% year over year to $174.88 million. Insiders sold 106,891 shares worth $1.12 million over the past 90 days, though institutional investors own 44.53% of the stock.

Shares of MARA Holdings (NASDAQ:MARA - Get Free Report) traded down 1.8% on Tuesday. The company traded as low as $10.93 and last traded at $10.97. Approximately 28,445,988 shares traded hands during mid-day trading, a decline of 38% from the average session volume of 45,927,508 shares. The stock had previously closed at $11.17.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the company. HC Wainwright started coverage on MARA in a research report on Friday, September 11th. They set a "buy" rating and a $20.00 target price for the company. Piper Sandler reduced their price objective 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. Weiss Ratings raised shares of MARA from a "sell (d-)" rating to a "sell (d)" rating in a report on Friday, August 21st. JPMorgan Chase & Co. reiterated an "underweight" rating and issued a $11.00 target price (down from $13.00) on shares of MARA in a research note on Monday, September 14th. Finally, Rosenblatt Securities reiterated a "buy" rating and issued a $15.00 target price on shares of MARA in a report on Friday, August 7th. Eight equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and three have issued a Sell rating to the company's stock. According to MarketBeat, MARA presently has an average rating of "Hold" and an average target price of $19.20.

MARA Stock Performance

The stock has a market cap of $4.24 billion, a P/E ratio of -1.20 and a beta of 5.33. The firm has a 50 day moving average of $11.22 and a two-hundred day moving average of $11.74. 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 issued its quarterly earnings results on Thursday, August 6th. The business services provider reported ($1.60) EPS for the quarter, missing the consensus estimate of $0.17 by ($1.77). MARA had a negative return on equity of 26.05% and a negative net margin of 429.71%.The business had revenue of $174.88 million during the quarter, compared to the consensus estimate of $209.44 million. During the same period in the prior year, the firm earned $1.84 earnings per share. The business's quarterly revenue was down 26.7% on a year-over-year basis. On average, research analysts predict that MARA Holdings will post -1.65 EPS for the current fiscal year.

Insider Activity at MARA

In other MARA news, CEO Frederick 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 sale, the chief executive officer directly owned 4,217,586 shares of the company's stock, valued at $47,321,314.92. This represents a 0.65% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, General Counsel Zabi Nowaid sold 8,376 shares of the firm's stock in a transaction on Friday, August 21st. The stock was sold at an average price of $12.00, for a total transaction of $100,512.00. Following the completion of the sale, the general counsel owned 898,780 shares in the company, valued at $10,785,360. This represents a 0.92% 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 106,891 shares of company stock worth $1,124,731 in the last ninety days. 0.97% of the stock is currently owned by insiders.

Institutional Trading of MARA

A number of hedge funds have recently modified their holdings of MARA. IFP Advisors Inc lifted its position in MARA by 1,154.9% in the second quarter. IFP Advisors Inc now owns 2,422 shares of the business services provider's stock worth $34,000 after purchasing an additional 2,229 shares during the period. Ascentis Independent Advisors acquired a new position in shares of MARA in the 1st quarter worth approximately $28,000. CoreCap Advisors LLC grew its holdings in shares of MARA by 128.0% during the second 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 during the last quarter. MassMutual Private Wealth & Trust FSB grew its holdings in MARA by 58.2% during the 3rd quarter. MassMutual Private Wealth & Trust FSB now owns 4,009 shares of the business services provider's stock worth $45,000 after acquiring an additional 1,475 shares during the last quarter. Finally, Bogart Wealth LLC grew its stake in shares of MARA by 4,345.1% during the first 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 last quarter. Institutional investors own 44.53% of the company's stock.

MARA Company Profile

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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