MARA (NASDAQ:MARA) Shares Down 3.2% – Time to Sell?

MARA Holdings (NASDAQ:MARA)’s share price was down 3.2% during mid-day trading on Friday. The company traded as low as $7.01 and last traded at $7.02. Approximately 33,714,171 shares traded hands during mid-day trading, a decline of 26% from the average daily volume of 45,272,930 shares. The stock had previously closed at $7.25.

Analyst Upgrades and Downgrades

Several brokerages recently commented on MARA. Morgan Stanley set a $10.00 price target on shares of MARA and gave the stock an “underweight” rating in a report on Friday, October 9th. Rosenblatt Securities restated a “buy” rating and set a $15.00 price objective on shares of MARA in a research report on Friday, August 7th. Cantor Fitzgerald decreased their price objective on shares of MARA from $14.00 to $12.00 and set an “overweight” rating on the stock in a report on Friday, August 7th. HC Wainwright assumed coverage on shares of MARA in a research report on Friday, September 11th. They issued a “buy” rating and a $20.00 target price on the stock. Finally, JPMorgan Chase & Co. reiterated an “underweight” rating and issued a $11.00 target price (down from $13.00) on shares of MARA in a research report on Monday, September 14th. Seven analysts have rated the stock with a Buy rating and three have given a Sell rating to the company. Based on data from MarketBeat.com, MARA has an average rating of “Hold” and an average price target of $17.78.

MARA Trading Down 3.2%

The company has a 50 day simple moving average of $10.73 and a 200 day simple moving average of $11.77. 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 company has a market capitalization of $2.71 billion, a PE ratio of -0.77 and a beta of 5.33.

MARA (NASDAQ:MARA) last announced its earnings results 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). 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%. MARA’s revenue was down 26.7% compared to the same quarter last year. During the same period in the previous year, the company earned $1.84 EPS. Analysts anticipate that MARA Holdings will post -1.65 earnings per share for the current year.

Insider Buying and Selling

In related news, General Counsel Zabi Nowaid sold 8,376 shares of the business’s stock in a transaction that occurred 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 completion of the sale, 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Frederick Thiel sold 27,505 shares of the stock in a transaction on Thursday, October 1st. The shares were sold at an average price of $11.22, for a total value of $308,606.10. Following the completion of the transaction, the chief executive officer directly owned 4,217,586 shares of the company’s stock, valued at approximately $47,321,314.92. This represents a 0.65% decrease in their ownership of the stock. 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. Over the last ninety days, insiders sold 106,891 shares of company stock worth $1,124,731. 0.97% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On MARA

Large investors have recently modified their holdings of the business. Delta Global Management LP acquired a new stake in shares of MARA in the first quarter valued at about $5,064,000. Hsbc Holdings PLC acquired a new stake in shares of MARA in the fourth quarter valued at approximately $5,220,000. Compass Rose Asset Management LP acquired a new stake in shares of MARA in the first quarter valued at approximately $4,243,000. Compass Financial Management LLC purchased a new position in MARA during the second quarter worth approximately $6,000,000. Finally, Edgestream Partners L.P. purchased a new position in MARA during the first quarter worth approximately $2,864,000. Hedge funds and other 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 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.