MARA (NASDAQ:MARA) Stock Price Down 3.5% - Should You Sell?

Key Points

• MARA shares fell 3.5% to $9.11 in mid-day trading, below both its 50-day ($11.10) and 200-day ($11.79) moving averages.
• Analyst sentiment is mixed: the stock has an average “Hold” rating and a $19.10 target price, with eight Buy, one Hold, and three Sell ratings.
• MARA reported significant operating weakness, including a $1.60 quarterly loss per share versus a $0.17 estimate, revenue below forecasts, a 26.7% year-over-year revenue decline, and negative profitability metrics.

MARA Holdings (NASDAQ:MARA - Get Free Report)'s share price dropped 3.5% during mid-day trading on Tuesday. The stock traded as low as $8.98 and last traded at $9.11. 35,992,394 shares were traded during mid-day trading, a decline of 21% from the average session volume of 45,657,492 shares. The stock had previously closed at $9.44.

Wall Street Analysts Forecast Growth

MARA has been the subject of several research analyst reports. Rosenblatt Securities reiterated a "buy" rating and set a $15.00 target price on shares of MARA in a research note on Friday, August 7th. Morgan Stanley set a $10.00 price target on shares of MARA and gave the stock an "underweight" rating in a research report on Friday. Cantor Fitzgerald dropped their price objective on shares of MARA from $14.00 to $12.00 and set an "overweight" rating on the stock in a report on Friday, August 7th. Citizens Jmp began coverage on shares of MARA in a research report on Wednesday, June 24th. They set a "market outperform" rating and a $24.00 price objective for the company. Finally, Piper Sandler cut their price objective on shares of MARA from $16.00 to $13.00 and set an "overweight" rating for the company in a research report on Friday, July 17th. Eight analysts have rated the stock with a Buy rating, one has issued a Hold rating and three have given a Sell rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $19.10.

MARA Stock Performance

The company has a debt-to-equity ratio of 1.15, a current ratio of 0.89 and a quick ratio of 0.89. The stock's 50 day moving average is $11.10 and its two-hundred day moving average is $11.79. The firm has a market cap of $3.52 billion, a P/E ratio of -0.99 and a beta of 5.33.

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 analysts' consensus estimates of $0.17 by ($1.77). The company had revenue of $174.88 million during the quarter, compared to analyst estimates of $209.44 million. MARA had a negative return on equity of 26.05% and a negative net margin of 429.71%. The company's quarterly revenue was down 26.7% on a year-over-year basis. During the same period in the previous year, the company posted $1.84 earnings per share. As a group, equities analysts predict that MARA Holdings will post -1.65 EPS for the current year.

Insider Buying and Selling at MARA

In other MARA news, CEO Frederick G. Thiel sold 27,505 shares of MARA stock in a transaction on Thursday, October 1st. The stock was sold at an average price of $11.22, for a total transaction of $308,606.10. Following the completion of the transaction, the chief executive officer directly owned 4,217,586 shares of the company's stock, valued at approximately $47,321,314.92. This trade represents a 0.65% decrease in their ownership of the stock. The sale was disclosed in a legal filing 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, CFO Salman Khan sold 16,000 shares of the business'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 $3,472,777.86. This represents a 4.07% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 106,891 shares of company stock worth $1,124,731 over the last three months. Company insiders own 0.97% of the company's stock.

Hedge Funds Weigh In On MARA

Several institutional investors have recently added to or reduced their stakes in the company. Everhart Financial Group Inc. bought a new position in MARA in the 3rd quarter valued at $152,000. Moody National Bank Trust Division grew its holdings in shares of 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 purchasing an additional 25,962 shares during the last quarter. MassMutual Private Wealth & Trust FSB grew its holdings in shares of 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 purchasing an additional 1,475 shares during the last quarter. Sequoia Financial Advisors LLC bought a new stake in shares of MARA during the second quarter worth $161,000. Finally, WINTON GROUP Ltd acquired a new stake in shares of MARA in the second quarter valued at $3,545,000. 44.53% of the stock is owned by institutional investors.

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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