HC Wainwright Reaffirms “Buy” Rating for MARA (NASDAQ:MARA)

MARA (NASDAQ:MARA)‘s stock had its “buy” rating reaffirmed by stock analysts at HC Wainwright in a research report issued on Wednesday,Benzinga reports. They presently have a $28.00 target price on the business services provider’s stock. HC Wainwright’s price objective indicates a potential upside of 12.95% from the stock’s previous close.

A number of other research firms also recently weighed in on MARA. Needham & Company LLC restated a “hold” rating on shares of MARA in a report on Wednesday, November 13th. Cantor Fitzgerald initiated coverage on MARA in a report on Thursday, October 10th. They issued an “overweight” rating and a $21.00 price objective for the company. Compass Point cut shares of MARA from a “buy” rating to a “neutral” rating and upped their price target for the company from $21.00 to $25.00 in a research report on Thursday, November 21st. JPMorgan Chase & Co. cut their price target on shares of MARA from $14.00 to $12.00 and set an “underweight” rating on the stock in a research report on Friday, August 23rd. Finally, Macquarie upped their price target on shares of MARA from $22.00 to $29.00 and gave the company an “outperform” rating in a research report on Monday, November 18th. Two analysts have rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $23.33.

MARA Stock Performance

NASDAQ MARA opened at $24.79 on Wednesday. The company has a market capitalization of $7.98 billion, a price-to-earnings ratio of 31.38 and a beta of 5.63. MARA has a twelve month low of $13.16 and a twelve month high of $34.09. The stock has a fifty day simple moving average of $19.83 and a 200 day simple moving average of $19.17. The company has a quick ratio of 4.00, a current ratio of 4.00 and a debt-to-equity ratio of 0.22.

MARA (NASDAQ:MARA) last posted its quarterly earnings data 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 company had revenue of $131.60 million during the quarter, compared to analyst estimates of $140.26 million. MARA had a net margin of 27.48% and a negative return on equity of 8.40%. The business’s revenue for the quarter was up 34.4% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.05) earnings per share. Sell-side analysts expect that MARA will post -1.02 EPS for the current year.

Insider Buying and Selling

In other MARA news, CEO Frederick G. Thiel sold 27,512 shares of the stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $15.70, for a total value of $431,938.40. Following the completion of the sale, the chief executive officer now owns 4,278,309 shares in the company, valued at approximately $67,169,451.30. This trade represents a 0.64 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Jay P. Leupp sold 6,800 shares of the stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $29.90, for a total transaction of $203,320.00. Following the completion of the sale, the director now owns 135,756 shares of the company’s stock, valued at approximately $4,059,104.40. This trade represents a 4.77 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 153,622 shares of company stock worth $2,906,197 in the last quarter. Insiders own 0.97% of the company’s stock.

Institutional Investors Weigh In On MARA

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Private Advisor Group LLC increased its stake in MARA by 27.7% in the 3rd quarter. Private Advisor Group LLC now owns 226,199 shares of the business services provider’s stock valued at $3,669,000 after buying an additional 49,062 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in MARA by 8.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,656,363 shares of the business services provider’s stock valued at $43,086,000 after buying an additional 217,106 shares during the last quarter. Mutual of America Capital Management LLC increased its stake in MARA by 112.4% in the 3rd quarter. Mutual of America Capital Management LLC now owns 203,975 shares of the business services provider’s stock valued at $3,308,000 after buying an additional 107,963 shares during the last quarter. Everence Capital Management Inc. purchased a new stake in MARA in the 3rd quarter valued at about $640,000. Finally, Rhumbline Advisers increased its stake in shares of MARA by 126.5% during the 2nd quarter. Rhumbline Advisers now owns 786,643 shares of the business services provider’s stock worth $15,615,000 after purchasing an additional 439,309 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 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.