MARA (NASDAQ:MARA) Stock Price Down 2.9% – Here’s What Happened

MARA Holdings, Inc. (NASDAQ:MARA) shares were down 2.9% during trading on Tuesday . The company traded as low as $12.46 and last traded at $12.58. Approximately 12,157,897 shares changed hands during mid-day trading, a decline of 73% from the average daily volume of 45,367,921 shares. The stock had previously closed at $12.95.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on MARA shares. HC Wainwright reaffirmed a “buy” rating and set a $28.00 price objective on shares of MARA in a research report on Thursday, February 27th. JPMorgan Chase & Co. lowered their price target on MARA from $23.00 to $18.00 and set a “neutral” rating for the company in a research report on Thursday, March 13th. Piper Sandler cut their price objective on shares of MARA from $34.00 to $30.00 and set an “overweight” rating on the stock in a research report on Monday, March 3rd. Rosenblatt Securities initiated coverage on shares of MARA in a report on Friday, March 7th. They issued a “buy” rating and a $19.00 target price for the company. Finally, Barclays cut their price target on shares of MARA from $27.00 to $14.00 and set an “equal weight” rating on the stock in a report on Monday, March 3rd. One research analyst has rated the stock with a sell rating, six have issued a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, MARA currently has an average rating of “Hold” and a consensus price target of $22.80.

MARA Stock Down 5.5 %

The company’s 50 day moving average price is $13.69 and its two-hundred day moving average price is $17.66. The company has a current ratio of 4.00, a quick ratio of 4.00 and a debt-to-equity ratio of 0.22. The firm has a market cap of $4.23 billion, a PE ratio of 15.49 and a beta of 6.10.

MARA (NASDAQ:MARA) last released its earnings results on Wednesday, February 26th. The business services provider reported $1.24 earnings per share for the quarter, beating the consensus estimate of ($0.32) by $1.56. The company had revenue of $214.39 million for the quarter, compared to the consensus estimate 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 expect that MARA Holdings, Inc. will post -1.04 EPS for the current fiscal year.

Insider Activity at MARA

In other news, CFO Salman Hassan Khan sold 16,700 shares of the business’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $15.31, for a total value of $255,677.00. Following the transaction, the chief financial officer now directly owns 1,773,788 shares in the company, valued at $27,156,694.28. The trade was a 0.93 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Frederick G. Thiel sold 27,505 shares of the stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $16.68, for a total value of $458,783.40. Following the sale, the chief executive officer now owns 3,910,843 shares of the company’s stock, valued at $65,232,861.24. This represents a 0.70 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 71,710 shares of company stock worth $1,209,825. 0.80% of the stock is owned by company insiders.

Institutional Investors Weigh In On MARA

Several institutional investors and hedge funds have recently modified their holdings of MARA. Vanguard Group Inc. increased its holdings in MARA by 7.5% in the 4th quarter. Vanguard Group Inc. now owns 38,782,941 shares of the business services provider’s stock valued at $650,390,000 after acquiring an additional 2,706,271 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of MARA by 7.2% in the fourth quarter. Geode Capital Management LLC now owns 7,675,994 shares of the business services provider’s stock worth $128,755,000 after purchasing an additional 518,503 shares during the last quarter. American Century Companies Inc. lifted its position in shares of MARA by 44.3% in the fourth quarter. American Century Companies Inc. now owns 4,039,871 shares of the business services provider’s stock worth $67,749,000 after buying an additional 1,240,354 shares in the last quarter. Northern Trust Corp boosted its stake in MARA by 18.1% during the fourth quarter. Northern Trust Corp now owns 3,293,531 shares of the business services provider’s stock valued at $55,233,000 after buying an additional 504,142 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in MARA by 14.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,028,457 shares of the business services provider’s stock valued at $50,787,000 after buying an additional 372,094 shares in the last quarter. Institutional investors own 44.53% of the company’s stock.

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.