MARA (NASDAQ:MARA) Stock Price Down 10.1% – What’s Next?

MARA Holdings (NASDAQ:MARA)’s share price dropped 10.1% on Friday . The company traded as low as $10.56 and last traded at $10.67. Approximately 41,704,857 shares changed hands during mid-day trading, a decline of 10% from the average daily volume of 46,434,316 shares. The stock had previously closed at $11.87.

Wall Street Analyst Weigh In

A number of research firms have issued reports on MARA. BTIG Research reissued a “buy” rating and set a $27.00 price target on shares of MARA in a research report on Monday, June 1st. Rosenblatt Securities restated a “buy” rating and issued a $15.00 price objective on shares of MARA in a report on Friday, August 7th. Morgan Stanley lifted their price objective on MARA from $5.50 to $6.00 and gave the company 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. Finally, Citizens Jmp began coverage on shares of MARA in a research report on Wednesday, June 24th. They set a “market outperform” rating and a $24.00 target price for the company. Eight equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $18.78.

MARA Trading Down 10.1%

The firm has a fifty day moving average of $11.82 and a 200-day moving average of $11.10. The company has a debt-to-equity ratio of 1.15, a quick ratio of 0.89 and a current ratio of 0.89. The stock has a market capitalization of $4.12 billion, a price-to-earnings ratio of -1.16 and a beta of 5.40.

MARA (NASDAQ:MARA) last issued its quarterly earnings data on Thursday, August 6th. The business services provider reported ($1.60) 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 company had revenue of $174.88 million for the quarter, compared to analyst estimates of $209.44 million. During the same quarter in the prior year, the firm earned $1.84 EPS. The company’s revenue for the quarter was down 26.7% compared to the same quarter last year. As a group, equities analysts predict that MARA Holdings will post -1.24 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director Douglas K. Mellinger sold 7,000 shares of MARA stock in a transaction that occurred 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 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 transaction was disclosed in a document filed with the SEC, which is available at 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 business’s stock in a transaction on Friday, August 21st. The stock was sold at an average price of $12.00, for a total transaction of $100,512.00. Following the transaction, 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 SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 109,386 shares of company stock valued at $1,332,889. Insiders own 0.97% of the company’s stock.

Institutional Investors Weigh In On MARA

A number of large investors have recently added to or reduced their stakes in MARA. Danske Bank A S purchased a new stake in MARA during the 3rd quarter worth $55,000. Ascentis Independent Advisors acquired a new stake in shares of MARA during the first quarter valued at about $28,000. CoreCap Advisors LLC increased its position in shares of MARA by 128.0% during the second quarter. CoreCap Advisors LLC now owns 3,651 shares of the business services provider’s stock worth $51,000 after acquiring an additional 2,050 shares during the last quarter. Eurizon Capital SGR S.p.A. acquired a new position in shares of MARA in the fourth quarter worth about $36,000. Finally, Bogart Wealth LLC lifted its stake in shares of MARA by 4,345.1% in the first quarter. Bogart Wealth LLC now owns 4,045 shares of the business services provider’s stock worth $33,000 after acquiring an additional 3,954 shares in the last quarter. 44.53% of the stock is owned by institutional investors and hedge funds.

About MARA

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.