MARA (NASDAQ:MARA) Reaches New 52-Week Low – Here’s Why

MARA Holdings (NASDAQ:MARA)’s stock price reached a new 52-week low during trading on Monday. The stock traded as low as $6.41 and last traded at $6.4570, with a volume of 21,588,041 shares. The stock had previously closed at $6.77.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on MARA shares. Rosenblatt Securities reaffirmed a “buy” rating and set a $15.00 price objective on shares of MARA in a report on Friday, August 7th. Cantor Fitzgerald dropped their price objective 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. Weiss Ratings downgraded MARA from a “sell (d)” rating to a “sell (d-)” rating in a research report on Friday, October 23rd. Morgan Stanley set a $10.00 price target on shares of MARA and gave the company an “underweight” rating in a research note on Friday, October 9th. Finally, JPMorgan Chase & Co. downgraded shares of MARA from an “overweight” rating to an “underweight” rating and cut their target price for the company from $13.00 to $11.00 in a research report on Monday, September 14th. Seven research analysts have rated the stock with a Buy rating and three have issued a Sell rating to the company’s stock. According to MarketBeat, MARA presently has an average rating of “Hold” and an average target price of $17.78.

MARA Stock Performance

The company has a market cap of $2.48 billion, a PE ratio of -0.70 and a beta of 5.33. 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 firm’s 50-day simple moving average is $10.37 and its two-hundred day simple moving average is $10.79.

MARA (NASDAQ:MARA) last issued its earnings results on Thursday, August 6th. The business services provider reported ($1.60) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.17 by ($1.77). MARA had a negative return on equity of 26.05% and a negative net margin of 429.71%. The firm 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 earned $1.84 EPS. The business’s revenue was down 26.7% on a year-over-year basis. As a group, research analysts anticipate that MARA Holdings will post -1.65 earnings per share for the current fiscal year.

Insider Activity at MARA

In other MARA news, CEO Frederick G. Thiel sold 27,505 shares of the company’s stock in a transaction that occurred on Thursday, October 1st. The stock was sold at an average price of $11.22, for a total value of $308,606.10. Following the sale, the chief executive officer owned 4,217,586 shares in the company, valued at approximately $47,321,314.92. This represents a 0.65% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 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 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 sale, the general counsel owned 898,780 shares in the company, valued at approximately $10,785,360. This represents a 0.92% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 106,891 shares of company stock worth $1,124,731 over the last three months. Company insiders own 0.97% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in MARA. Principal Financial Group Inc. boosted its holdings in MARA by 2.0% in the 1st quarter. Principal Financial Group Inc. now owns 1,838,149 shares of the business services provider’s stock worth $14,999,000 after buying an additional 35,978 shares during the last quarter. Headlands Technologies LLC grew its holdings in MARA by 51.2% in the 2nd quarter. Headlands Technologies LLC now owns 444,756 shares of the business services provider’s stock valued at $6,178,000 after buying an additional 150,665 shares in the last quarter. Compass Financial Management LLC acquired a new stake in shares of MARA in the 2nd quarter worth $6,000,000. Hsbc Holdings PLC purchased a new position in MARA during the fourth quarter worth about $5,220,000. Finally, Delta Global Management LP purchased a new position in MARA during the first quarter worth about $5,064,000. Hedge funds and other institutional investors own 44.53% of the company’s stock.

MARA Company Profile

MARA Holdings, Inc (NASDAQ: MARA), formerly known as Marathon Digital Holdings, is a digital asset mining and energy infrastructure company. Its primary business is securing the Bitcoin network by operating specialized computing equipment that validates transactions and earns Bitcoin rewards.

The company develops and operates data centers and digital asset computing infrastructure, while also pursuing strategies to access low-cost and surplus energy. MARA has expanded its operations through a combination of owned facilities, hosting arrangements and acquisitions, with activities spanning North America and other international markets.

The company was founded in 2010 as Marathon Patent Group and later shifted its focus toward cryptocurrency mining before adopting the Marathon Digital name.