MARA (NASDAQ:MARA) Shares Gap Up – Here’s Why

MARA Holdings, Inc. (NASDAQ:MARA)’s stock price gapped up prior to trading on Wednesday . The stock had previously closed at $19.86, but opened at $20.74. MARA shares last traded at $21.42, with a volume of 31,727,855 shares trading hands.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on MARA shares. Needham & Company LLC reissued a “hold” rating on shares of MARA in a report on Wednesday, November 13th. Compass Point downgraded shares of MARA from a “buy” rating to a “neutral” rating and lifted their price target for the company from $21.00 to $25.00 in a report on Thursday. JPMorgan Chase & Co. decreased their price objective on shares of MARA from $14.00 to $12.00 and set an “underweight” rating on the stock in a research note on Friday, August 23rd. Cantor Fitzgerald initiated coverage on shares of MARA in a research note on Thursday, October 10th. They issued an “overweight” rating and a $21.00 target price for the company. Finally, Macquarie boosted their target price on MARA from $22.00 to $29.00 and gave the stock an “outperform” rating in a report on Monday. Two research analysts have rated the stock with a sell rating, four have given a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, MARA presently has an average rating of “Hold” and a consensus target price of $22.88.

MARA Stock Up 6.0 %

The stock has a market cap of $7.72 billion, a P/E ratio of 30.35 and a beta of 5.52. The company has a debt-to-equity ratio of 0.22, a quick ratio of 4.00 and a current ratio of 4.00. The firm’s 50-day moving average is $17.66 and its two-hundred day moving average is $18.67.

MARA (NASDAQ:MARA) last released its earnings results on Tuesday, November 12th. The business services provider reported ($0.42) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.38) by ($0.04). The firm had revenue of $131.60 million for the quarter, compared to the consensus estimate of $140.26 million. MARA had a negative return on equity of 8.40% and a net margin of 27.48%. The company’s revenue was up 34.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.05) EPS. On average, equities research analysts anticipate that MARA Holdings, Inc. will post -0.72 earnings per share for the current year.

Insider Buying and Selling at MARA

In related news, CFO Salman Hassan Khan sold 16,700 shares of the stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $19.80, for a total transaction of $330,660.00. Following the completion of the sale, the chief financial officer now directly owns 2,029,647 shares of the company’s stock, valued at approximately $40,187,010.60. This represents a 0.82 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Frederick G. Thiel sold 27,505 shares of MARA stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $19.80, for a total value of $544,599.00. Following the completion of the sale, the chief executive officer now directly owns 4,155,595 shares in the company, valued at $82,280,781. This represents a 0.66 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 135,622 shares of company stock worth $2,399,805. Company insiders own 0.97% of the company’s stock.

Institutional Investors Weigh In On MARA

A number of institutional investors have recently made changes to their positions in MARA. Dimensional Fund Advisors LP raised its stake in MARA by 261.1% in the second quarter. Dimensional Fund Advisors LP now owns 3,236,920 shares of the business services provider’s stock valued at $64,249,000 after purchasing an additional 2,340,472 shares in the last quarter. Bank of New York Mellon Corp lifted its position in shares of MARA by 186.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 2,039,569 shares of the business services provider’s stock worth $40,485,000 after purchasing an additional 1,327,969 shares during the period. Principal Financial Group Inc. lifted its stake in MARA by 4,394.8% in the second quarter. Principal Financial Group Inc. now owns 1,354,766 shares of the business services provider’s stock valued at $26,892,000 after buying an additional 1,324,625 shares during the period. Public Sector Pension Investment Board acquired a new stake in shares of MARA in the 2nd quarter valued at about $11,920,000. Finally, Vanguard Group Inc. increased its stake in MARA by 1.9% during the 1st quarter. Vanguard Group Inc. now owns 23,915,042 shares of the business services provider’s stock valued at $540,002,000 after purchasing an additional 441,455 shares in the last quarter. Institutional investors own 44.53% of the company’s stock.

About MARA

MARA Holdings, Inc operates as a digital asset technology company that mines digital assets with a focus on the bitcoin ecosystem in United States. The company was formerly known as Marathon Digital Holdings, Inc and changed its name to MARA Holdings, Inc in August 2024. MARA Holdings, Inc was incorporated in 2010 and is headquartered in Fort Lauderdale, Florida.