MARA (NASDAQ:MARA) Shares Up 6.7% Following Analyst Upgrade

MARA Holdings, Inc. (NASDAQ:MARA) shares traded up 6.7% during trading on Tuesday after Macquarie raised their price target on the stock from $22.00 to $29.00. Macquarie currently has an outperform rating on the stock. MARA traded as high as $19.41 and last traded at $19.31. 33,312,270 shares changed hands during trading, a decline of 39% from the average session volume of 54,292,930 shares. The stock had previously closed at $18.10.

Several other equities research analysts also recently issued reports on MARA. HC Wainwright reiterated a “buy” rating and issued a $28.00 target price on shares of MARA in a research note on Wednesday, November 13th. Cantor Fitzgerald started coverage on MARA in a research note on Thursday, October 10th. They issued an “overweight” rating and a $21.00 price target on the stock. JPMorgan Chase & Co. reduced their price objective on shares of MARA from $14.00 to $12.00 and set an “underweight” rating for the company in a research report on Friday, August 23rd. Finally, Needham & Company LLC reissued a “hold” rating on shares of MARA in a research report on Wednesday, November 13th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the company. According to MarketBeat.com, MARA currently has a consensus rating of “Hold” and an average price target of $22.57.

Insiders Place Their Bets

In related news, CEO Frederick G. Thiel sold 27,505 shares of the company’s stock in a transaction dated Wednesday, October 16th. The shares were sold at an average price of $17.50, for a total transaction of $481,337.50. Following the completion of the sale, the chief executive officer now owns 4,250,804 shares of the company’s stock, valued at $74,389,070. This represents a 0.64 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Salman Hassan Khan sold 16,700 shares of the firm’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $15.70, for a total transaction of $262,190.00. Following the completion of the transaction, the chief financial officer now directly owns 2,103,347 shares in the company, 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. Insiders sold 135,622 shares of company stock worth $2,399,805 in the last quarter. 0.97% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the company. Beaird Harris Wealth Management LLC increased its stake in shares of MARA by 121.1% in the 1st quarter. Beaird Harris Wealth Management LLC now owns 1,269 shares of the business services provider’s stock valued at $29,000 after purchasing an additional 695 shares during the last quarter. Truvestments Capital LLC acquired a new position in MARA during the third quarter worth about $26,000. Larson Financial Group LLC lifted its holdings in shares of MARA by 124.2% in the third quarter. Larson Financial Group LLC now owns 1,917 shares of the business services provider’s stock worth $31,000 after acquiring an additional 1,062 shares during the last quarter. Signaturefd LLC boosted its stake in shares of MARA by 74.8% in the 3rd quarter. Signaturefd LLC now owns 2,975 shares of the business services provider’s stock valued at $48,000 after purchasing an additional 1,273 shares in the last quarter. Finally, Capital Performance Advisors LLP bought a new stake in shares of MARA during the 3rd quarter valued at approximately $50,000. 44.53% of the stock is owned by institutional investors.

MARA Stock Performance

The company has a current ratio of 4.00, a quick ratio of 4.00 and a debt-to-equity ratio of 0.22. The firm has a market capitalization of $7.28 billion, a price-to-earnings ratio of 28.65 and a beta of 5.52. The stock’s 50-day moving average is $17.66 and its 200-day moving average is $18.67.

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

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.