MARA (NASDAQ:MARA) Stock Price Up 3.3% – Here’s Why

MARA Holdings, Inc. (NASDAQ:MARA) rose 3.3% on Monday . The stock traded as high as $20.55 and last traded at $20.28. Approximately 21,830,501 shares changed hands during trading, a decline of 37% from the average daily volume of 34,447,090 shares. The stock had previously closed at $19.64.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the company. Needham & Company LLC reaffirmed a “hold” rating on shares of MARA in a report on Wednesday, November 13th. Compass Point lowered shares of MARA from a “buy” rating to a “neutral” rating and upped their price target for the company from $21.00 to $25.00 in a research report on Thursday, November 21st. Macquarie increased their price objective on shares of MARA from $22.00 to $29.00 and gave the stock an “outperform” rating in a research note on Monday, November 18th. Barclays initiated coverage on shares of MARA in a research report on Monday, November 25th. They set an “equal weight” rating and a $27.00 target price for the company. Finally, JPMorgan Chase & Co. upgraded shares of MARA from an “underweight” rating to a “neutral” rating and increased their price target for the stock from $12.00 to $23.00 in a research report on Tuesday, December 10th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, MARA has a consensus rating of “Hold” and an average price target of $25.80.

MARA Price Performance

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 stock has a 50 day simple moving average of $21.53 and a 200-day simple moving average of $19.22. The firm has a market cap of $5.90 billion, a PE ratio of 23.22 and a beta of 5.76.

MARA (NASDAQ:MARA) last issued its earnings results on Tuesday, November 12th. The business services provider reported ($0.42) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.38) by ($0.04). MARA had a net margin of 27.48% and a negative return on equity of 8.40%. The business had revenue of $131.60 million for the quarter, compared to the consensus estimate of $140.26 million. During the same period last year, the business posted ($0.05) EPS. The firm’s revenue for the quarter was up 34.4% compared to the same quarter last year. Equities analysts anticipate that MARA Holdings, Inc. will post -1.02 earnings per share for the current fiscal year.

Insider Transactions at MARA

In related news, Director Jay P. Leupp sold 6,800 shares of the business’s stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $29.90, for a total value of $203,320.00. Following the sale, the director now directly owns 135,756 shares in the company, valued at approximately $4,059,104.40. The trade was a 4.77 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Salman Hassan Khan sold 16,700 shares of the firm’s stock in a transaction that occurred on Wednesday, October 16th. The shares were sold at an average price of $17.50, for a total value of $292,250.00. Following the transaction, the chief financial officer now owns 2,077,232 shares of the company’s stock, valued at $36,351,560. This represents a 0.80 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 153,615 shares of company stock valued at $3,258,686. 0.97% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On MARA

A number of hedge funds have recently bought and sold shares of MARA. Dimensional Fund Advisors LP raised its position in shares of MARA by 261.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,236,920 shares of the business services provider’s stock valued at $64,249,000 after buying an additional 2,340,472 shares in the last quarter. Public Sector Pension Investment Board purchased a new stake in MARA during the second quarter valued at approximately $11,920,000. Rhumbline Advisers lifted its stake in shares of MARA by 126.5% in the 2nd quarter. Rhumbline Advisers now owns 786,643 shares of the business services provider’s stock valued at $15,615,000 after purchasing an additional 439,309 shares during the last quarter. Geode Capital Management LLC increased its position in shares of MARA by 5.6% during the 3rd quarter. Geode Capital Management LLC now owns 7,157,491 shares of the business services provider’s stock valued at $116,115,000 after purchasing an additional 378,542 shares during the last quarter. Finally, Thrivent Financial for Lutherans purchased a new stake in MARA during the 2nd quarter valued at $4,498,000. Hedge funds and other institutional investors own 44.53% of the company’s stock.

MARA Company Profile

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.