MARA (NASDAQ:MARA) Trading 6.7% Higher on Analyst Upgrade

MARA Holdings, Inc. (NASDAQ:MARA) was 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. Approximately 33,312,270 shares changed hands during mid-day trading, a decline of 39% from the average daily volume of 54,292,930 shares. The stock had previously closed at $18.10.

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

Insider Activity at MARA

In related news, CEO Frederick G. Thiel sold 27,512 shares of the company’s stock in a transaction on 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 $67,169,451.30. This represents a 0.64 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Salman Hassan Khan sold 16,700 shares of the firm’s stock in a transaction on Wednesday, October 16th. The stock was sold at an average price of $17.50, for a total transaction of $292,250.00. Following the transaction, the chief financial officer now directly owns 2,077,232 shares in the company, valued at $36,351,560. The trade was a 0.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 91,417 shares of company stock valued at $1,524,546 over the last ninety days. Insiders own 0.97% of the company’s stock.

Hedge Funds Weigh In On MARA

Several institutional investors have recently added to or reduced their stakes in the stock. Teachers Retirement System of The State of Kentucky grew its stake in shares of MARA by 4.2% in the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 79,650 shares of the business services provider’s stock valued at $1,292,000 after purchasing an additional 3,200 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of MARA by 5.6% during the third quarter. Geode Capital Management LLC now owns 7,157,491 shares of the business services provider’s stock worth $116,115,000 after purchasing an additional 378,542 shares during the period. M&T Bank Corp grew its position in MARA by 14.1% in the 3rd quarter. M&T Bank Corp now owns 19,571 shares of the business services provider’s stock valued at $317,000 after buying an additional 2,418 shares during the last quarter. Y Intercept Hong Kong Ltd acquired a new position in MARA in the 3rd quarter valued at $1,072,000. Finally, Vienna Asset Management LLC purchased a new position in MARA during the 3rd quarter worth $291,000. Institutional investors and hedge funds own 44.53% of the company’s stock.

MARA Price Performance

The company has a market cap of $6.39 billion, a price-to-earnings ratio of 25.14 and a beta of 5.52. The company’s 50 day moving average price is $17.53 and its 200 day moving average price is $18.64. The company has a current ratio of 4.00, a quick ratio of 4.00 and a debt-to-equity ratio of 0.22.

MARA (NASDAQ:MARA) last announced its quarterly earnings data 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). MARA had a net margin of 27.48% and a negative return on equity of 8.40%. The firm had revenue of $131.60 million during the quarter, compared to analyst estimates of $140.26 million. During the same quarter in the previous year, the business earned ($0.05) EPS. MARA’s revenue for the quarter was up 34.4% on a year-over-year basis. Equities research analysts forecast that MARA Holdings, Inc. will post -0.72 earnings per share for the current 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.