MARA (NASDAQ:MARA) Trading Up 4.6% - What's Next?

Key Points

• MARA shares rose 4.6% to $11.83, reaching an intraday high of $12.06 on volume that was 15% above the average session volume.
• Analysts maintain a consensus “Moderate Buy” rating, with an average price target of $18.78, though several firms recently lowered their targets.
• The company reported a substantial quarterly loss of $1.60 per share and revenue of $174.88 million, missing estimates, while insiders have sold $1.33 million of stock over the past 90 days.

MARA Holdings (NASDAQ:MARA - Get Free Report) traded up 4.6% on Tuesday . The company traded as high as $12.06 and last traded at $11.83. Approximately 53,264,777 shares were traded during mid-day trading, an increase of 15% from the average session volume of 46,220,684 shares. The stock had previously closed at $11.31.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on MARA shares. Cantor Fitzgerald cut their price objective on MARA from $14.00 to $12.00 and set an "overweight" rating for the company in a research report on Friday, August 7th. Citizens Jmp assumed coverage on shares of MARA in a research note on Wednesday, June 24th. They issued a "market outperform" rating and a $24.00 target price on the stock. Piper Sandler decreased their price target on MARA from $16.00 to $13.00 and set an "overweight" rating for the company in a research note on Friday, July 17th. Morgan Stanley boosted their price target on MARA from $5.50 to $6.00 and gave the company an "underweight" rating in a report on Thursday, August 13th. Finally, Rosenblatt Securities restated a "buy" rating and issued a $15.00 price target on shares of MARA in a report on Friday, August 7th. Eight investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $18.78.

MARA Stock Performance

The firm has a market cap of $4.57 billion, a price-to-earnings ratio of -1.29 and a beta of 5.32. 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 firm has a fifty day simple moving average of $11.34 and a two-hundred day simple moving average of $11.26.

MARA (NASDAQ:MARA - Get Free Report) last issued its quarterly 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). MARA had a negative net margin of 429.71% and a negative return on equity of 26.05%. The company had revenue of $174.88 million for the quarter, compared to analyst estimates of $209.44 million. During the same quarter in the previous year, the company posted $1.84 EPS. The company's revenue for the quarter was down 26.7% compared to the same quarter last year. On average, analysts expect that MARA Holdings will post -1.24 EPS for the current year.

Insider Buying and Selling at MARA

In related news, CEO Frederick Thiel sold 27,505 shares of the 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 transaction, the chief executive officer owned 4,562,009 shares in the company, valued at approximately $65,008,628.25. This represents a 0.60% decrease in their position. The sale was disclosed in a 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, 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 transaction, the general counsel directly owned 898,780 shares of the company's stock, valued at approximately $10,785,360. This trade represents a 0.92% 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 a total of 109,386 shares of company stock worth $1,332,889 in the last 90 days. Corporate insiders own 0.97% of the company's stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Ascentis Independent Advisors purchased a new position in shares of MARA in the 1st quarter valued at about $28,000. Bogart Wealth LLC raised its position in shares of MARA by 4,345.1% in the first quarter. Bogart Wealth LLC now owns 4,045 shares of the business services provider's stock valued at $33,000 after buying an additional 3,954 shares during the last quarter. Eurizon Capital SGR S.p.A. purchased a new position in MARA in the 4th quarter worth approximately $36,000. Hantz Financial Services Inc. grew its position in shares of MARA by 344.8% in the fourth quarter. Hantz Financial Services Inc. now owns 5,022 shares of the business services provider's stock valued at $45,000 after purchasing an additional 3,893 shares in the last quarter. Finally, CoreCap Advisors LLC increased 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 worth $51,000 after acquiring an additional 2,050 shares during the last quarter. Hedge funds and other institutional investors own 44.53% of the company's stock.

MARA Company Profile

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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