MARA (NASDAQ:MARA) Hits New 12-Month Low – Here’s What Happened

MARA Holdings (NASDAQ:MARA) reached a new 52-week low during trading on Monday. The company traded as low as $6.65 and last traded at $6.6860, with a volume of 4,277,242 shares trading hands. The stock had previously closed at $7.02.

Analyst Ratings Changes

MARA has been the subject of a number of research reports. HC Wainwright assumed coverage on MARA in a research report on Friday, September 11th. They set a “buy” rating and a $20.00 price target for the company. JPMorgan Chase & Co. restated an “underweight” rating and issued a $11.00 price objective (down from $13.00) on shares of MARA in a report on Monday, September 14th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $15.00 price objective on shares of MARA in a research note on Friday, August 7th. Morgan Stanley set a $10.00 target price on MARA and gave the stock an “underweight” rating in a report on Friday, October 9th. Finally, Piper Sandler reissued an “overweight” rating and set a $11.00 target price (down from $13.00) on shares of MARA in a research report on Tuesday, October 20th. Seven investment analysts have rated the stock with a Buy rating and three have given a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $17.78.

MARA Price Performance

The company has a 50-day simple moving average of $10.68 and a two-hundred day simple moving average of $11.75. The stock has a market capitalization of $2.70 billion, a price-to-earnings ratio of -0.76 and a beta of 5.33. 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 posted its earnings results 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 during the quarter, compared to analyst estimates of $209.44 million. MARA had a negative net margin of 429.71% and a negative return on equity of 26.05%. The firm’s revenue was down 26.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.84 earnings per share. On average, equities research analysts predict that MARA Holdings will post -1.65 earnings per share for the current year.

Insider Buying and Selling

In other news, CFO Salman Khan sold 16,000 shares of the stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $9.21, for a total value of $147,360.00. Following the completion of the sale, the chief financial officer directly owned 377,066 shares of the company’s stock, valued at $3,472,777.86. This represents a 4.07% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, General Counsel Zabi Nowaid sold 8,376 shares of MARA stock in a transaction on Friday, August 21st. The shares were sold at an average price of $12.00, for a total transaction of $100,512.00. Following the completion of the sale, the general counsel directly owned 898,780 shares of the company’s stock, valued at approximately $10,785,360. The trade was a 0.92% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 106,891 shares of company stock worth $1,124,731 in the last ninety days. 0.97% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On MARA

A number of institutional investors and hedge funds have recently added to or reduced their stakes in MARA. IFP Advisors Inc raised its holdings in MARA by 1,154.9% in the second quarter. IFP Advisors Inc now owns 2,422 shares of the business services provider’s stock worth $34,000 after purchasing an additional 2,229 shares during the period. Ascentis Independent Advisors bought a new stake in MARA during the first quarter worth about $28,000. CoreCap Advisors LLC grew its position in shares of MARA by 128.0% in the 2nd quarter. CoreCap Advisors LLC now owns 3,651 shares of the business services provider’s stock valued at $51,000 after acquiring an additional 2,050 shares during the period. Activest Wealth Management lifted its holdings in MARA by 300.0% during the 3rd quarter. Activest Wealth Management now owns 4,000 shares of the business services provider’s stock valued at $45,000 after purchasing an additional 3,000 shares during the last quarter. Finally, MassMutual Private Wealth & Trust FSB lifted its holdings in MARA by 58.2% during the 3rd quarter. MassMutual Private Wealth & Trust FSB now owns 4,009 shares of the business services provider’s stock worth $45,000 after purchasing an additional 1,475 shares during the last quarter. Institutional investors own 44.53% of the company’s stock.

MARA Company Profile

MARA Holdings, Inc (NASDAQ: MARA), formerly known as Marathon Digital Holdings, is a digital asset mining and energy infrastructure company. Its primary business is securing the Bitcoin network by operating specialized computing equipment that validates transactions and earns Bitcoin rewards.

The company develops and operates data centers and digital asset computing infrastructure, while also pursuing strategies to access low-cost and surplus energy. MARA has expanded its operations through a combination of owned facilities, hosting arrangements and acquisitions, with activities spanning North America and other international markets.

The company was founded in 2010 as Marathon Patent Group and later shifted its focus toward cryptocurrency mining before adopting the Marathon Digital name.