MARA (NASDAQ:MARA) Stock Falls 3.5% – Should You Sell?

MARA Holdings (NASDAQ:MARA)’s stock price traded down 3.5% during trading on Monday. The company traded as low as $12.09 and last traded at $12.11. 28,301,880 shares traded hands during mid-day trading, a decline of 39% from the average session volume of 46,311,816 shares. The stock had previously closed at $12.55.

Analyst Upgrades and Downgrades

MARA has been the topic of several recent research reports. Cantor Fitzgerald dropped their target price on MARA from $14.00 to $12.00 and set an “overweight” rating on the stock in a research report on Friday, August 7th. Piper Sandler reduced their price target on MARA from $16.00 to $13.00 and set an “overweight” rating for the company in a research report on Friday, July 17th. Weiss Ratings raised MARA from a “sell (d-)” rating to a “sell (d)” rating in a research report on Friday, August 21st. HC Wainwright started coverage on MARA in a research note on Friday, September 11th. They issued a “buy” rating and a $20.00 target price on the stock. Finally, BTIG Research reiterated a “buy” rating and issued a $27.00 target price on shares of MARA in a report on Monday, June 1st. Eight investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat.com, MARA presently has an average rating of “Hold” and an average target price of $19.20.

MARA Stock Down 3.5%

The company’s fifty day simple moving average is $11.30 and its 200-day simple moving average is $11.63. The firm has a market capitalization of $4.68 billion, a PE ratio of -1.32 and a beta of 5.32. The company has a debt-to-equity ratio of 1.15, a current ratio of 0.89 and a quick ratio of 0.89.

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 the consensus estimate of $0.17 by ($1.77). The business had revenue of $174.88 million for the quarter, compared to analysts’ expectations of $209.44 million. MARA had a negative net margin of 429.71% and a negative return on equity of 26.05%. The business’s revenue for the quarter was down 26.7% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.84 EPS. On average, analysts forecast that MARA Holdings will post -1.65 EPS for the current year.

Insider Activity at MARA

In other news, CEO Frederick G. Thiel sold 27,505 shares of the business’s stock in a transaction dated Thursday, September 17th. The stock was sold at an average price of $11.45, for a total transaction of $314,932.25. Following the sale, the chief executive officer owned 4,308,192 shares in the company, valued at approximately $49,328,798.40. The trade was a 0.63% decrease in their ownership of the stock. The sale 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 company’s stock in a transaction dated Friday, August 21st. The shares were sold at an average price of $12.00, for a total transaction of $100,512.00. Following the transaction, the general counsel owned 898,780 shares in the company, valued at approximately $10,785,360. This trade represents a 0.92% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 79,386 shares of company stock valued at $816,125 in the last ninety days. Corporate insiders own 0.97% of the company’s stock.

Institutional Trading of MARA

A number of institutional investors have recently bought and sold shares of the stock. Geode Capital Management LLC grew its position in MARA by 2.6% during the 4th quarter. Geode Capital Management LLC now owns 9,957,766 shares of the business services provider’s stock worth $89,434,000 after purchasing an additional 251,674 shares during the last quarter. Norges Bank purchased a new position in shares of MARA in the fourth quarter worth $39,492,000. Capital World Investors raised its holdings in shares of MARA by 0.6% in the fourth quarter. Capital World Investors now owns 2,954,764 shares of the business services provider’s stock worth $26,534,000 after buying an additional 19,048 shares during the last quarter. Principal Financial Group Inc. lifted its stake in shares of MARA by 2.0% during the first 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 period. Finally, Hsbc Holdings PLC lifted its stake in shares of MARA by 11.5% during the first quarter. Hsbc Holdings PLC now owns 634,172 shares of the business services provider’s stock worth $5,099,000 after buying an additional 65,220 shares during the period. 44.53% of the stock is currently owned by institutional investors and hedge funds.

MARA Company Profile

MARA Holdings, Inc, formerly known as Marathon Digital Holdings, Inc, is a digital asset technology company focused primarily on mining bitcoin. The company operates and supports computing infrastructure designed to secure the Bitcoin network by processing transactions and earning bitcoin rewards.

MARA develops and deploys large-scale data center and energy infrastructure for digital asset mining. Its activities include operating mining facilities, managing specialized application-specific integrated circuit (ASIC) mining equipment, and pursuing energy and infrastructure solutions intended to support more efficient and scalable computing operations.