MARA (NASDAQ:MARA) Stock Price Down 2.8% After Analyst Downgrade

MARA Holdings, Inc. (NASDAQ:MARA) fell 2.8% on Thursday after JPMorgan Chase & Co. lowered their price target on the stock from $23.00 to $18.00. JPMorgan Chase & Co. currently has a neutral rating on the stock. MARA traded as low as $12.62 and last traded at $12.74. 9,371,474 shares changed hands during trading, a decline of 80% from the average session volume of 46,332,603 shares. The stock had previously closed at $13.11.

Several other equities research analysts have also recently commented on MARA. HC Wainwright reissued a “buy” rating and set a $28.00 target price on shares of MARA in a report on Thursday, February 27th. Piper Sandler dropped their price objective on MARA from $34.00 to $30.00 and set an “overweight” rating on the stock in a research note on Monday, March 3rd. B. Riley raised their target price on MARA from $21.00 to $23.00 and gave the company a “neutral” rating in a research note on Thursday, December 19th. Barclays dropped their price target on shares of MARA from $27.00 to $14.00 and set an “equal weight” rating on the stock in a research report on Monday, March 3rd. Finally, Compass Point lowered shares of MARA from a “buy” rating to a “neutral” rating and raised their price objective for the company from $21.00 to $25.00 in a research report on Thursday, November 21st. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $22.80.

Insiders Place Their Bets

In other news, CFO Salman Hassan Khan sold 16,700 shares of the firm’s stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $15.31, for a total value of $255,677.00. Following the completion of the sale, the chief financial officer now owns 1,773,788 shares of the company’s stock, valued at $27,156,694.28. This trade represents a 0.93 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Frederick G. Thiel sold 27,505 shares of MARA stock in a transaction on Monday, December 16th. The shares were sold at an average price of $23.50, for a total value of $646,367.50. Following the transaction, the chief executive officer now owns 4,128,090 shares in the company, valued at $97,010,115. This represents a 0.66 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 116,915 shares of company stock worth $2,265,643 over the last ninety days. 0.80% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On MARA

A number of large investors have recently made changes to their positions in the business. Beacon Capital Management LLC purchased a new position in MARA during the fourth quarter valued at approximately $26,000. Truvestments Capital LLC purchased a new position in shares of MARA during the 3rd quarter valued at $26,000. Park Square Financial Group LLC acquired a new position in shares of MARA in the fourth quarter worth $27,000. Sterling Capital Management LLC raised its holdings in shares of MARA by 358.3% during the fourth quarter. Sterling Capital Management LLC now owns 1,824 shares of the business services provider’s stock worth $31,000 after acquiring an additional 1,426 shares in the last quarter. Finally, Larson Financial Group LLC boosted its position in MARA by 124.2% during the third quarter. Larson Financial Group LLC now owns 1,917 shares of the business services provider’s stock valued at $31,000 after purchasing an additional 1,062 shares during the last quarter. Institutional investors and hedge funds own 44.53% of the company’s stock.

MARA Stock Down 7.2 %

The company has a debt-to-equity ratio of 0.22, a current ratio of 4.00 and a quick ratio of 4.00. The business has a 50 day simple moving average of $16.83 and a 200 day simple moving average of $18.30. The stock has a market cap of $4.21 billion, a PE ratio of 15.39 and a beta of 5.95.

MARA (NASDAQ:MARA) last announced its quarterly earnings results on Wednesday, February 26th. The business services provider reported $1.24 EPS for the quarter, beating the consensus estimate of ($0.32) by $1.56. The business had revenue of $214.39 million during the quarter, compared to analysts’ expectations of $187.11 million. MARA had a negative return on equity of 8.40% and a net margin of 27.48%. On average, equities research analysts forecast that MARA Holdings, Inc. will post -1.04 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.