MARA (NASDAQ:MARA) Trading Down 4.1% – Time to Sell?

MARA Holdings (NASDAQ:MARA) traded down 4.1% during trading on Thursday . The company traded as low as $11.22 and last traded at $11.43. Approximately 38,433,378 shares changed hands during trading, a decline of 17% from the average daily volume of 46,143,547 shares. The stock had previously closed at $11.92.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on MARA shares. Citizens Jmp began coverage on shares of MARA in a research report on Wednesday, June 24th. They issued a “market outperform” rating and a $24.00 price target for the company. Morgan Stanley boosted their price objective on shares of MARA from $5.50 to $6.00 and gave the stock an “underweight” rating in a research note on Thursday, August 13th. Weiss Ratings upgraded MARA from a “sell (d-)” rating to a “sell (d)” rating in a report on Friday, August 21st. Piper Sandler dropped their target price on MARA from $16.00 to $13.00 and set an “overweight” rating on the stock in a research report on Friday, July 17th. Finally, Rosenblatt Securities reiterated a “buy” rating and issued a $15.00 price target on shares of MARA in a report on Friday, August 7th. Eight research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $18.78.

MARA Price Performance

The stock has a 50-day moving average price of $11.27 and a two-hundred day moving average price of $11.32. 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 cap of $4.42 billion, a price-to-earnings ratio of -1.25 and a beta of 5.32.

MARA (NASDAQ:MARA) last announced its earnings results on Thursday, August 6th. The business services provider reported ($1.60) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.17 by ($1.77). The business had revenue of $174.88 million for the quarter, compared to analyst estimates of $209.44 million. MARA had a negative net margin of 429.71% and a negative return on equity of 26.05%. The company’s quarterly revenue was down 26.7% on a year-over-year basis. During the same period in the prior year, the company earned $1.84 earnings per share. As a group, equities research analysts forecast that MARA Holdings will post -1.24 EPS for the current year.

Insider Activity at MARA

In other news, General Counsel Zabi Nowaid sold 8,376 shares of MARA stock in a transaction on Friday, August 21st. The shares were sold at an average price of $12.00, for a total transaction of $100,512.00. Following the completion of the sale, the general counsel directly owned 898,780 shares in the company, valued at approximately $10,785,360. The trade was a 0.92% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Douglas K. Mellinger sold 7,000 shares of the business’s stock in a transaction on Monday, June 22nd. The shares were sold at an average price of $16.00, for a total transaction of $112,000.00. Following the sale, the director directly owned 231,618 shares in the company, valued at $3,705,888. This trade represents a 2.93% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 109,386 shares of company stock worth $1,332,889 in the last quarter. 0.97% of the stock is currently owned by company insiders.

Institutional Trading of MARA

A number of institutional investors and hedge funds have recently added to or reduced their stakes in MARA. UBS Group AG lifted its holdings in shares of MARA by 104.1% in the 3rd quarter. UBS Group AG now owns 12,098,686 shares of the business services provider’s stock valued at $220,922,000 after buying an additional 6,172,110 shares during the period. California State Teachers Retirement System grew its stake in shares of MARA by 1,266.3% during the 2nd quarter. California State Teachers Retirement System now owns 5,629,700 shares of the business services provider’s stock worth $78,197,000 after purchasing an additional 5,217,648 shares during the period. Voloridge Investment Management LLC purchased a new position in shares of MARA during the 3rd quarter valued at approximately $93,066,000. Norges Bank purchased a new position in shares of MARA during the 4th quarter valued at approximately $39,492,000. Finally, Van ECK Associates Corp increased its holdings in MARA by 125.4% in the fourth quarter. Van ECK Associates Corp now owns 2,727,069 shares of the business services provider’s stock valued at $24,489,000 after buying an additional 1,516,937 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.