MARA (NASDAQ:MARA) Trading 8.3% Higher – Still a Buy?

Shares of MARA Holdings, Inc. (NASDAQ:MARA) rose 8.3% during trading on Monday . The company traded as high as $25.04 and last traded at $24.61. Approximately 24,440,547 shares were traded during mid-day trading, a decline of 57% from the average daily volume of 56,646,977 shares. The stock had previously closed at $22.73.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on MARA. JPMorgan Chase & Co. raised shares of MARA from an “underweight” rating to a “neutral” rating and lifted their price objective for the company from $12.00 to $23.00 in a research report on Tuesday, December 10th. Piper Sandler initiated coverage on MARA in a research report on Tuesday. They set an “overweight” rating and a $34.00 price target on the stock. Cantor Fitzgerald initiated coverage on MARA in a research note on Thursday, October 10th. They issued an “overweight” rating and a $21.00 price objective on the stock. Macquarie lifted their target price on MARA from $22.00 to $29.00 and gave the stock an “outperform” rating in a research note on Monday, November 18th. Finally, Needham & Company LLC restated a “hold” rating on shares of MARA in a research note on Wednesday, November 13th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and five have given a buy rating to the company. According to MarketBeat, MARA has a consensus rating of “Hold” and a consensus price target of $25.50.

MARA Trading Up 0.2 %

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 stock has a market capitalization of $7.92 billion, a price-to-earnings ratio of 31.14 and a beta of 5.63. The business has a fifty day simple moving average of $20.92 and a 200 day simple moving average of $19.29.

MARA (NASDAQ:MARA) last released its quarterly earnings results on Tuesday, November 12th. The business services provider reported ($0.42) EPS for the quarter, missing the consensus estimate of ($0.38) by ($0.04). MARA had a net margin of 27.48% and a negative return on equity of 8.40%. The business had revenue of $131.60 million during the quarter, compared to analyst estimates of $140.26 million. During the same quarter last year, the company posted ($0.05) earnings per share. The company’s revenue was up 34.4% on a year-over-year basis. As a group, research analysts expect that MARA Holdings, Inc. will post -1.02 EPS for the current year.

Insiders Place Their Bets

In other MARA news, CFO Salman Hassan Khan sold 16,700 shares of the stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $19.80, for a total transaction of $330,660.00. Following the sale, the chief financial officer now directly owns 2,029,647 shares in the company, valued at $40,187,010.60. This represents a 0.82 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Frederick G. Thiel sold 27,512 shares of the firm’s stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $15.70, for a total transaction of $431,938.40. Following the completion of the transaction, the chief executive officer now directly owns 4,278,309 shares in the company, valued at approximately $67,169,451.30. This represents a 0.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 136,922 shares of company stock worth $2,651,807 in the last quarter. Corporate insiders own 0.97% of the company’s stock.

Institutional Trading of MARA

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Assenagon Asset Management S.A. acquired a new position in MARA during the second quarter valued at approximately $1,890,000. Nisa Investment Advisors LLC raised its holdings in shares of MARA by 56.3% during the 2nd quarter. Nisa Investment Advisors LLC now owns 57,931 shares of the business services provider’s stock worth $1,150,000 after buying an additional 20,861 shares in the last quarter. Louisiana State Employees Retirement System bought a new stake in shares of MARA during the 2nd quarter worth $2,725,000. Bank of New York Mellon Corp boosted its stake in MARA by 186.6% in the second quarter. Bank of New York Mellon Corp now owns 2,039,569 shares of the business services provider’s stock valued at $40,485,000 after buying an additional 1,327,969 shares in the last quarter. Finally, Verdence Capital Advisors LLC bought a new position in MARA in the second quarter valued at about $198,000. Institutional investors own 44.53% of the company’s stock.

MARA Company Profile

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.