MARA (NASDAQ:MARA) Price Target Cut to $9.00 by Analysts at JPMorgan Chase & Co.

MARA (NASDAQ:MARA) had its price objective decreased by JPMorgan Chase & Co. from $11.00 to $9.00 in a report published on Wednesday morning,Benzinga reports. JPMorgan Chase & Co. currently has an underweight rating on the business services provider’s stock.

Several other brokerages have also issued reports on MARA. HC Wainwright began coverage on shares of MARA in a report on Friday, September 11th. They issued a “buy” rating and a $20.00 price objective on the stock. Piper Sandler reaffirmed an “overweight” rating and issued a $11.00 target price (down from $13.00) on shares of MARA in a research report on Tuesday, October 20th. Rosenblatt Securities lowered their target price on shares of MARA from $15.00 to $11.00 and set a “buy” rating for the company in a research note on Tuesday. Cantor Fitzgerald dropped their price target on shares of MARA from $14.00 to $12.00 and set an “overweight” rating for the company in a research report on Friday, August 7th. Finally, Guggenheim reissued a “neutral” rating on shares of MARA in a research note on Tuesday. Seven analysts have rated the stock with a Buy rating, one has issued a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat, MARA currently has a consensus rating of “Hold” and a consensus price target of $16.00.

MARA Stock Performance

MARA stock opened at $7.66 on Wednesday. MARA has a one year low of $5.69 and a one year high of $16.43. The firm’s 50 day moving average price is $9.68 and its 200-day moving average price is $10.63. The company has a quick ratio of 0.89, a current ratio of 2.31 and a debt-to-equity ratio of 1.13.

MARA (NASDAQ:MARA) last issued its quarterly earnings data on Monday, November 9th. The business services provider reported $1.28 earnings per share for the quarter, topping the consensus estimate of ($0.39) by $1.67. MARA had a negative return on equity of 37.75% and a negative net margin of 411.23%. The company had revenue of $164.23 million during the quarter, compared to analyst estimates of $183.24 million. As a group, equities research analysts forecast that MARA will post -2.38 EPS for the current year.

Insider Activity at MARA

In related news, CEO Frederick G. Thiel sold 27,505 shares of the stock in a transaction dated Monday, November 2nd. The stock was sold at an average price of $6.79, for a total transaction of $186,758.95. Following the transaction, the chief executive officer owned 4,149,585 shares of the company’s stock, valued at approximately $28,175,682.15. This represents a 0.66% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, General Counsel Zabi Nowaid sold 8,376 shares of the firm’s stock in a transaction dated Friday, August 21st. The shares were sold at an average price of $12.00, for a total value of $100,512.00. Following the transaction, the general counsel owned 898,780 shares of the company’s stock, valued at $10,785,360. This trade represents a 0.92% 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. In the last 90 days, insiders have sold 134,396 shares of company stock worth $1,311,490. 0.97% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On MARA

Institutional investors have recently bought and sold shares of the company. Quantinno Capital Management LP lifted its holdings in MARA by 315.5% during the 1st quarter. Quantinno Capital Management LP now owns 166,571 shares of the business services provider’s stock worth $1,359,000 after buying an additional 126,482 shares in the last quarter. WINTON GROUP Ltd purchased a new position in MARA in the 2nd quarter valued at approximately $3,545,000. Compass Financial Management LLC purchased a new position in MARA in the 2nd quarter valued at approximately $6,000,000. Edgestream Partners L.P. purchased a new position in MARA in the 1st quarter valued at approximately $2,864,000. Finally, Engineers Gate Manager LP acquired a new position in shares of MARA in the second quarter worth $1,177,000. 44.53% of the stock is owned by institutional investors and hedge funds.

Recent MARA Headlines

Here are a few of the latest headlines about MARA:

• Positive Sentiment: Some analysts see value after the selloff: Compass Point maintained a Buy rating and set a $20 target, while another report described its new coverage as Strong Buy. Read More.
• Neutral Sentiment: The AI and high-performance-computing opportunity remains a potential catalyst, with MARA outlining a path from roughly 1 gigawatt of power capacity to more than 4 GW and targeting lease signings. However, revenue from future leases is not yet established. Read More.
• Negative Sentiment: Analyst caution could limit enthusiasm: JPMorgan cut its price target from $11 to $9 and assigned an Underweight rating, while Needham lowered earnings estimates after the quarter’s mining miss. Read More.

About MARA

MARA Holdings, Inc., formerly known as Marathon Digital Holdings, is a digital energy and infrastructure company focused primarily on Bitcoin mining. It develops and operates data-center infrastructure and specialized computing systems used to validate transactions on the Bitcoin network and earn bitcoin rewards. The company also works on energy-related strategies to support its computing operations, including using energy sources and infrastructure that can help power data centers. Its operations are concentrated in the United States, with expansion into international markets.