MARA (NASDAQ:MARA) Issues Quarterly Earnings Results

MARA (NASDAQ:MARA) issued its earnings results on Tuesday. The business services provider reported ($0.42) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.38) by ($0.04), Briefing.com reports. MARA had a negative return on equity of 8.40% and a net margin of 27.48%. The business had revenue of $131.60 million for the quarter, compared to analyst estimates of $140.26 million. During the same period last year, the company posted ($0.05) earnings per share. The firm’s revenue for the quarter was up 34.4% on a year-over-year basis.

MARA Trading Up 0.3 %

Shares of MARA stock traded up $0.06 on Friday, reaching $20.85. 19,925,423 shares of the company were exchanged, compared to its average volume of 53,969,723. MARA has a fifty-two week low of $9.21 and a fifty-two week high of $34.09. The firm has a market capitalization of $6.71 billion, a price-to-earnings ratio of 25.48 and a beta of 5.52. The company has a current ratio of 4.00, a quick ratio of 3.75 and a debt-to-equity ratio of 0.22. The stock has a fifty day moving average price of $17.23 and a 200-day moving average price of $18.56.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on MARA shares. HC Wainwright reissued a “buy” rating and issued a $28.00 target price on shares of MARA in a report on Wednesday. JPMorgan Chase & Co. cut their price target on MARA from $14.00 to $12.00 and set an “underweight” rating on the stock in a report on Friday, August 23rd. Macquarie started coverage on MARA in a research report on Tuesday, September 24th. They issued an “outperform” rating and a $22.00 target price on the stock. Needham & Company LLC reissued a “hold” rating on shares of MARA in a report on Wednesday. Finally, Cantor Fitzgerald initiated coverage on shares of MARA in a research report on Thursday, October 10th. They issued an “overweight” rating and a $21.00 price objective on the stock. Two analysts have rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, MARA presently has an average rating of “Hold” and a consensus price target of $21.57.

Insider Buying and Selling

In related news, CEO Frederick G. Thiel sold 27,505 shares of the stock in a transaction dated Wednesday, October 16th. The stock was sold at an average price of $17.50, for a total value of $481,337.50. Following the completion of the sale, the chief executive officer now directly owns 4,250,804 shares of the company’s stock, valued at approximately $74,389,070. This represents a 0.64 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Salman Hassan Khan sold 16,700 shares of the firm’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $15.70, for a total transaction of $262,190.00. Following the sale, the chief financial officer now owns 2,103,347 shares of the company’s stock, valued at approximately $33,022,547.90. This represents a 0.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 91,417 shares of company stock valued at $1,524,546. 0.97% of the stock is owned by corporate insiders.

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.