MARA (NASDAQ:MARA) Stock Falls 1.1% – Time to Sell?

MARA Holdings (NASDAQ:MARA)’s share price traded down 1.1% during trading on Thursday. The stock traded as low as $10.91 and last traded at $11.21. 30,230,171 shares traded hands during trading, a decline of 34% from the average session volume of 46,096,117 shares. The stock had previously closed at $11.33.

Wall Street Analyst Weigh In

MARA has been the subject of several analyst reports. JPMorgan Chase & Co. restated an “underweight” rating and issued a $11.00 target price (down from $13.00) on shares of MARA in a research note on Monday, September 14th. Rosenblatt Securities restated a “buy” rating and set a $15.00 price objective on shares of MARA in a report on Friday, August 7th. Weiss Ratings upgraded shares of MARA from a “sell (d-)” rating to a “sell (d)” rating in a research note on Friday, August 21st. Piper Sandler reduced their price objective on shares of MARA from $16.00 to $13.00 and set an “overweight” rating on the stock in a research note on Friday, July 17th. Finally, HC Wainwright began coverage on shares of MARA in a research note on Friday, September 11th. They issued a “buy” rating and a $20.00 target price on the stock. Eight research analysts have rated the stock with a Buy rating, one has given a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $19.20.

MARA Stock Down 1.1%

The stock’s fifty day simple moving average is $11.28 and its two-hundred day simple moving average is $11.70. The company has a debt-to-equity ratio of 1.15, a current ratio of 0.89 and a quick ratio of 0.89. The company has a market capitalization of $4.33 billion, a price-to-earnings ratio of -1.22 and a beta of 5.32.

MARA (NASDAQ:MARA) last announced its quarterly earnings data on Thursday, August 6th. The business services provider reported ($1.60) earnings per share for the quarter, missing analysts’ consensus estimates of $0.17 by ($1.77). MARA had a negative net margin of 429.71% and a negative return on equity of 26.05%. The business had revenue of $174.88 million for the quarter, compared to the consensus estimate of $209.44 million. During the same period in the prior year, the company earned $1.84 EPS. MARA’s quarterly revenue was down 26.7% on a year-over-year basis. On average, sell-side analysts predict that MARA Holdings will post -1.65 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CEO Frederick Thiel sold 27,505 shares of the business’s stock in a transaction that occurred on Thursday, September 17th. The stock was sold at an average price of $11.45, for a total transaction of $314,932.25. Following the completion of the transaction, the chief executive officer owned 4,308,192 shares in the company, valued at $49,328,798.40. The trade was a 0.63% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available 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 stock in a transaction on Friday, August 21st. The stock was sold at an average price of $12.00, for a total value of $100,512.00. Following the completion of the sale, the general counsel directly owned 898,780 shares in the company, valued at $10,785,360. This represents a 0.92% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 79,386 shares of company stock valued at $816,125. Insiders own 0.97% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of MARA. Norges Bank acquired a new position in shares of MARA during the fourth quarter worth approximately $39,492,000. Delta Global Management LP bought a new stake in MARA during the 1st quarter valued at $5,064,000. Hsbc Holdings PLC acquired a new position in MARA during the 4th quarter worth $5,220,000. Compass Rose Asset Management LP bought a new position in shares of MARA in the first quarter worth $4,243,000. Finally, Compass Financial Management LLC bought a new position in shares of MARA in the second quarter worth $6,000,000. Institutional investors own 44.53% of the company’s stock.

About MARA

MARA Holdings, Inc (NASDAQ: MARA), formerly known as Marathon Digital Holdings, is a digital asset technology company focused primarily on mining bitcoin. The company operates specialized data centers containing application-specific integrated circuit (ASIC) computers that process transactions and secure the Bitcoin network in exchange for bitcoin rewards.

In addition to bitcoin mining, MARA develops and operates digital asset computing infrastructure. Its activities include managing energy and data-center resources, deploying mining hardware, and pursuing technologies designed to improve the efficiency and scalability of digital asset mining.