MARA (NASDAQ:MARA) Trading Up 2.3% - Still a Buy?

Key Points

• MARA shares rose 2.3% to $10.47 on Wednesday, although trading volume was 35% below the average session volume. The stock’s beta of 5.40 indicates substantial volatility.
• Analysts maintain a generally favorable outlook, with a consensus “Moderate Buy” rating and an $18.78 price target, despite several recent target reductions.
• The company reported a significant quarterly loss of $1.60 per share, missing expectations by $1.77, while revenue fell 26.7% year over year to $174.88 million. Insiders sold $1.33 million of stock during the last quarter.

MARA Holdings (NASDAQ:MARA - Get Free Report) shares traded up 2.3% on Wednesday . The stock traded as high as $10.53 and last traded at $10.47. 29,859,446 shares traded hands during trading, a decline of 35% from the average session volume of 46,105,336 shares. The stock had previously closed at $10.23.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on MARA shares. Cantor Fitzgerald lowered their price target on MARA from $14.00 to $12.00 and set an "overweight" rating on the stock in a report on Friday, August 7th. Piper Sandler lowered their target price on MARA from $16.00 to $13.00 and set an "overweight" rating on the stock in a report on Friday, July 17th. Weiss Ratings upgraded MARA from a "sell (d-)" rating to a "sell (d)" rating in a research report on Friday, August 21st. Rosenblatt Securities reissued a "buy" rating and issued a $15.00 price objective on shares of MARA in a research note on Friday, August 7th. Finally, Morgan Stanley raised their target price on shares of MARA from $5.50 to $6.00 and gave the company an "underweight" rating in a report on Thursday, August 13th. Eight analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $18.78.

MARA Trading Up 2.3%

The business has a fifty day moving average price of $11.58 and a 200 day moving average price of $11.16. 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 firm has a market capitalization of $4.04 billion, a price-to-earnings ratio of -1.14 and a beta of 5.40.

MARA (NASDAQ:MARA - Get Free Report) last released its quarterly earnings results on Thursday, August 6th. The business services provider reported ($1.60) earnings per share for the quarter, missing analysts' consensus estimates 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 company had revenue of $174.88 million during the quarter, compared to analysts' expectations of $209.44 million. During the same quarter in the prior year, the company earned $1.84 EPS. The firm's revenue was down 26.7% compared to the same quarter last year. As a group, equities analysts forecast that MARA Holdings will post -1.24 earnings per share for the current year.

Insiders Place Their Bets

In other news, General Counsel Zabi Nowaid sold 8,376 shares of the business's stock in a transaction dated Friday, August 21st. The shares were sold at an average price of $12.00, for a total value of $100,512.00. Following the completion of the sale, the general counsel owned 898,780 shares of the company's stock, valued at approximately $10,785,360. The trade was a 0.92% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Frederick G. Thiel sold 27,505 shares of the business's stock in a transaction that occurred on Wednesday, June 17th. The shares were sold at an average price of $14.25, for a total value of $391,946.25. Following the completion of the sale, the chief executive officer owned 4,562,009 shares of the company's stock, valued at $65,008,628.25. This trade represents a 0.60% decrease in their ownership of the stock. 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. In the last quarter, insiders sold 109,386 shares of company stock valued at $1,332,889. Company insiders own 0.97% of the company's stock.

Institutional Investors Weigh In On MARA

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Ascentis Independent Advisors purchased a new stake in shares of MARA during the first quarter worth $28,000. Bogart Wealth LLC raised its stake in shares of MARA by 4,345.1% during the 1st quarter. Bogart Wealth LLC now owns 4,045 shares of the business services provider's stock worth $33,000 after purchasing an additional 3,954 shares in the last quarter. Eurizon Capital SGR S.p.A. acquired a new stake in shares of MARA during the 4th quarter valued at about $36,000. Hantz Financial Services Inc. lifted its holdings in shares of MARA by 344.8% during the 4th 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 during the last quarter. Finally, CoreCap Advisors LLC grew its stake in shares of MARA by 128.0% in the 2nd quarter. CoreCap Advisors LLC now owns 3,651 shares of the business services provider's stock valued at $51,000 after buying an additional 2,050 shares in the last quarter. 44.53% of the stock is owned by institutional investors and hedge funds.

About MARA

MARA Holdings, Inc is an energy and digital infrastructure company whose core business is Bitcoin mining. Headquartered in Hallandale Beach, Florida, the company operates large-scale computing infrastructure designed to convert energy into high-value compute workloads.

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