MARA (NASDAQ:MARA) Stock Price Down 2.1% - Here's Why

Key Points

• MARA shares fell 2.1% to $13.35 on trading volume below the daily average, despite the stock remaining above its 50- and 200-day moving averages.
• Analyst views remain mixed: MARA has a consensus rating of “Hold” and an average price target of $19.20, with recent target cuts from Piper Sandler and Cantor Fitzgerald offset by Morgan Stanley raising its target to $11.
• The company reported a significant quarterly miss, posting a $1.60 loss per share versus expectations for $0.17 in earnings, while revenue declined 26.7% year over year to $174.88 million. Insiders have also sold $816,125 worth of shares over the past 90 days.

MARA Holdings (NASDAQ:MARA - Get Free Report) shares fell 2.1% on Wednesday . The stock traded as low as $13.27 and last traded at $13.35. Approximately 37,112,573 shares were traded during trading, a decline of 20% from the average daily volume of 46,507,965 shares. The stock had previously closed at $13.63.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on MARA shares. BTIG Research reaffirmed a "buy" rating and set a $27.00 price target on shares of MARA in a research report on Monday, June 1st. Piper Sandler reduced their price objective on MARA from $16.00 to $13.00 and set an "overweight" rating on the stock in a research note on Friday, July 17th. Cantor Fitzgerald decreased their target price on MARA from $14.00 to $12.00 and set an "overweight" rating for the company in a research report on Friday, August 7th. Weiss Ratings upgraded shares of MARA from a "sell (d-)" rating to a "sell (d)" rating in a report on Friday, August 21st. Finally, Morgan Stanley restated an "underweight" rating and set a $11.00 price objective (up from $6.00) on shares of MARA in a report on Friday, September 18th. Eight analysts have rated the stock with a Buy rating, one has issued a Hold rating and three have assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $19.20.

MARA Stock Performance

The firm has a market capitalization of $5.16 billion, a PE ratio of -1.46 and a beta of 5.32. The firm's 50 day moving average price is $11.21 and its 200-day moving average price is $11.54. 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) 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 analysts' expectations 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 quarterly revenue was down 26.7% compared to the same quarter last year. During the same quarter last year, the firm earned $1.84 earnings per share. On average, research analysts expect that MARA Holdings will post -1.65 EPS for the current year.

Insider Buying and Selling

In related news, General Counsel Zabi Nowaid sold 8,376 shares of the stock in a transaction on Friday, August 21st. The stock was sold at an average price of $12.00, for a total value of $100,512.00. Following the completion of the transaction, the general counsel directly owned 898,780 shares of the company's stock, valued at approximately $10,785,360. This represents a 0.92% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Frederick Thiel sold 27,505 shares of MARA stock in a transaction on Thursday, September 17th. The stock was sold at an average price of $11.45, for a total transaction of $314,932.25. Following the sale, the chief executive officer directly owned 4,308,192 shares in the company, valued at approximately $49,328,798.40. This trade represents a 0.63% 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 sold 79,386 shares of company stock worth $816,125. 0.97% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Geode Capital Management LLC boosted its holdings in MARA by 2.6% in the 4th quarter. Geode Capital Management LLC now owns 9,957,766 shares of the business services provider's stock valued at $89,434,000 after purchasing an additional 251,674 shares during the last quarter. Norges Bank acquired a new position in shares of MARA in the 4th quarter worth approximately $39,492,000. Capital World Investors boosted its position in shares of MARA by 0.6% during the 4th quarter. Capital World Investors now owns 2,954,764 shares of the business services provider's stock worth $26,534,000 after purchasing an additional 19,048 shares during the period. Principal Financial Group Inc. increased its holdings in MARA by 2.0% in the 1st quarter. Principal Financial Group Inc. now owns 1,838,149 shares of the business services provider's stock valued at $14,999,000 after purchasing an additional 35,978 shares during the last quarter. Finally, Hsbc Holdings PLC raised its position 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 purchasing an additional 65,220 shares during the period. Hedge funds and other institutional investors own 44.53% of the company's stock.

About MARA

MARA Holdings, Inc, formerly known as Marathon Digital Holdings, Inc, is a digital asset technology company focused primarily on mining bitcoin. The company operates and supports computing infrastructure designed to secure the Bitcoin network by processing transactions and earning bitcoin rewards.

MARA develops and deploys large-scale data center and energy infrastructure for digital asset mining. Its activities include operating mining facilities, managing specialized application-specific integrated circuit (ASIC) mining equipment, and pursuing energy and infrastructure solutions intended to support more efficient and scalable computing operations.

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