MARA (NASDAQ:MARA) Receives “Underweight” Rating from JPMorgan Chase & Co.

MARA (NASDAQ:MARA)‘s stock had its “underweight” rating reiterated by stock analysts at JPMorgan Chase & Co. in a report issued on Monday, Benzinga reports. They presently have a $11.00 price target on the business services provider’s stock, down from their prior price target of $13.00. JPMorgan Chase & Co.‘s price target would indicate a potential downside of 8.18% from the company’s current price.

Other equities research analysts also recently issued reports about the stock. HC Wainwright started coverage on shares of MARA in a report on Friday. They issued a “buy” rating and a $20.00 price target for the company. BTIG Research reaffirmed a “buy” rating and issued a $27.00 price objective on shares of MARA in a research note on Monday, June 1st. Weiss Ratings upgraded shares of MARA from a “sell (d-)” rating to a “sell (d)” rating in a report on Friday, August 21st. Citizens Jmp began coverage on shares of MARA in a research note on Wednesday, June 24th. They set a “market outperform” rating and a $24.00 target price for the company. Finally, Cantor Fitzgerald reduced their target price on shares of MARA from $14.00 to $12.00 and set an “overweight” rating for the company in a report on Friday, August 7th. Eight equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $18.70.

MARA Price Performance

Shares of NASDAQ:MARA opened at $11.98 on Monday. The stock has a market cap of $4.63 billion, a price-to-earnings ratio of -1.31 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 has a 12 month low of $6.66 and a 12 month high of $23.45. The stock’s 50 day moving average price is $11.25 and its 200 day moving average price is $11.37.

MARA (NASDAQ:MARA) last issued its quarterly earnings results on Thursday, August 6th. The business services provider reported ($1.60) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.17 by ($1.77). The firm had revenue of $174.88 million for 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 for the quarter was down 26.7% compared to the same quarter last year. During the same quarter last year, the business posted $1.84 earnings per share. Equities research analysts anticipate that MARA will post -1.24 earnings per share for the current fiscal year.

Insider Activity

In other MARA news, General Counsel Zabi Nowaid sold 8,376 shares of the business’s 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 sale, the general counsel directly owned 898,780 shares of the company’s stock, valued at $10,785,360. The trade was a 0.92% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Douglas Mellinger sold 7,000 shares of the stock in a transaction dated Monday, June 22nd. The stock was sold at an average price of $16.00, for a total value of $112,000.00. Following the completion of the sale, the director directly owned 231,618 shares of the company’s stock, valued at approximately $3,705,888. This represents a 2.93% 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 ninety days, insiders sold 109,386 shares of company stock valued at $1,332,889. 0.97% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Ascentis Independent Advisors acquired a new stake in shares of MARA in the 1st quarter valued at $28,000. Bogart Wealth LLC increased its position in MARA by 4,345.1% during the first quarter. Bogart Wealth LLC now owns 4,045 shares of the business services provider’s stock worth $33,000 after buying an additional 3,954 shares during the last quarter. IFP Advisors Inc increased its position in MARA by 1,154.9% during the second quarter. IFP Advisors Inc now owns 2,422 shares of the business services provider’s stock worth $34,000 after buying an additional 2,229 shares during the last quarter. Eurizon Capital SGR S.p.A. bought a new position in MARA during the fourth quarter valued at about $36,000. Finally, Hantz Financial Services Inc. raised its holdings in MARA by 344.8% during the fourth quarter. Hantz Financial Services Inc. now owns 5,022 shares of the business services provider’s stock valued at $45,000 after buying an additional 3,893 shares in the last quarter. Institutional investors own 44.53% of the company’s stock.

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.