MARA (NASDAQ:MARA) Stock Price Up 5.8% – Here’s What Happened

MARA Holdings (NASDAQ:MARA) traded up 5.8% during mid-day trading on Thursday . The company traded as high as $12.32 and last traded at $11.87. 59,611,183 shares traded hands during mid-day trading, an increase of 28% from the average session volume of 46,460,438 shares. The stock had previously closed at $11.22.

Analyst Upgrades and Downgrades

Several research analysts have commented on MARA shares. Morgan Stanley lifted their price target on MARA from $5.50 to $6.00 and gave the stock an “underweight” rating in a research report on Thursday, August 13th. Citizens Jmp began coverage on shares of MARA in a report on Wednesday, June 24th. They issued a “market outperform” rating and a $24.00 target price on the stock. Piper Sandler reduced their price target on shares of MARA from $16.00 to $13.00 and set an “overweight” rating for the company in a research report on Friday, July 17th. Cantor Fitzgerald decreased their price target on shares of MARA from $14.00 to $12.00 and set an “overweight” rating for the company in a research note on Friday, August 7th. Finally, Rosenblatt Securities reiterated a “buy” rating and set a $15.00 price target on shares of MARA in a research note on Friday, August 7th. Eight investment analysts have rated the stock with a Buy rating, two have given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, MARA has an average rating of “Moderate Buy” and an average price target of $18.78.

MARA Trading Down 10.1%

The company has a 50 day simple moving average of $11.75 and a 200 day simple moving average of $11.10. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 1.15. The stock has a market capitalization of $4.12 billion, a PE ratio of -1.16 and a beta of 5.40.

MARA (NASDAQ:MARA) last announced its earnings results on Thursday, August 6th. The business services provider reported ($1.60) earnings per share for the quarter, missing the consensus estimate of $0.17 by ($1.77). MARA had a negative net margin of 429.71% and a negative return on equity of 26.05%. The company had revenue of $174.88 million during the quarter, compared to analysts’ expectations of $209.44 million. During the same quarter last year, the business posted $1.84 earnings per share. The company’s revenue for the quarter was down 26.7% compared to the same quarter last year. Analysts predict that MARA Holdings will post -1.24 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO Frederick G. Thiel sold 27,505 shares of the firm’s stock in a transaction dated Wednesday, June 17th. The shares were sold at an average price of $14.25, for a total value of $391,946.25. Following the completion of the sale, the chief executive officer owned 4,562,009 shares in the company, valued at $65,008,628.25. This trade represents a 0.60% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Douglas K. Mellinger sold 7,000 shares of MARA stock in a transaction that occurred on Monday, June 22nd. The shares were sold at an average price of $16.00, for a total value of $112,000.00. Following the completion of the sale, the director directly owned 231,618 shares in the company, valued at $3,705,888. This represents a 2.93% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 109,386 shares of company stock valued at $1,332,889. Company insiders own 0.97% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of MARA. CI Investments Inc. lifted its holdings in MARA by 7.6% in the first quarter. CI Investments Inc. now owns 13,520 shares of the business services provider’s stock valued at $110,000 after acquiring an additional 957 shares during the period. Integrated Wealth Concepts LLC grew its stake in shares of MARA by 9.8% during the 1st quarter. Integrated Wealth Concepts LLC now owns 11,073 shares of the business services provider’s stock worth $127,000 after purchasing an additional 991 shares during the period. Greenleaf Trust grew its stake in shares of MARA by 9.9% during the 2nd quarter. Greenleaf Trust now owns 11,915 shares of the business services provider’s stock worth $165,000 after purchasing an additional 1,076 shares during the period. Evexia Wealth LLC increased its holdings in shares of MARA by 9.2% in the 1st quarter. Evexia Wealth LLC now owns 12,937 shares of the business services provider’s stock valued at $106,000 after purchasing an additional 1,090 shares in the last quarter. Finally, Sigma Planning Corp increased its holdings in shares of MARA by 12.4% in the 4th quarter. Sigma Planning Corp now owns 11,924 shares of the business services provider’s stock valued at $107,000 after purchasing an additional 1,320 shares in the last quarter. Institutional investors and hedge funds own 44.53% of the company’s stock.

MARA Company Profile

MARA Holdings, Inc is an energy and digital infrastructure company whose core business is Bitcoin mining. Headquartered in Hallandale Beach, Florida, the company operates large-scale computing infrastructure designed to convert energy into high-value compute workloads.