MARA (NASDAQ:MARA) Shares Down 2.4% – Should You Sell?

MARA Holdings (NASDAQ:MARA)’s stock price traded down 2.4% during trading on Thursday. The stock traded as low as $7.02 and last traded at $7.17. Approximately 33,902,852 shares changed hands during trading, a decline of 25% from the average daily volume of 45,119,633 shares. The stock had previously closed at $7.35.

Analysts Set New Price Targets

MARA has been the topic of several recent analyst reports. Morgan Stanley set a $10.00 target price on shares of MARA and gave the stock an “underweight” rating in a research note on Friday, October 9th. HC Wainwright began coverage on MARA in a research note on Friday, September 11th. They set a “buy” rating and a $20.00 price objective for the company. Rosenblatt Securities restated a “buy” rating and set a $15.00 target price on shares of MARA in a research report on Friday, August 7th. Weiss Ratings cut MARA from a “sell (d)” rating to a “sell (d-)” rating in a research report on Friday, October 23rd. Finally, Cantor Fitzgerald decreased their target price on MARA from $14.00 to $12.00 and set an “overweight” rating on the stock in a research note on Friday, August 7th. Seven analysts have rated the stock with a Buy rating and three have issued a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $17.78.

MARA Trading Down 2.6%

The stock has a 50 day moving average of $10.51 and a 200 day moving average of $10.82. The firm has a market cap of $2.77 billion, a P/E ratio of -0.78 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 issued its quarterly 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 business had revenue of $174.88 million for the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.84 earnings per share. As a group, equities research analysts predict that MARA Holdings will post -1.65 EPS for the current year.

Insider Activity

In other news, CEO Frederick Thiel sold 27,505 shares of the company’s 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 sale, the chief executive officer 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Salman Khan sold 16,000 shares of the stock in a transaction on Monday, August 17th. The shares were sold at an average price of $9.21, for a total transaction of $147,360.00. Following the transaction, the chief financial officer directly owned 377,066 shares in the company, valued at approximately $3,472,777.86. This represents a 4.07% decrease in their position. 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 sold 106,891 shares of company stock valued at $1,124,731. Corporate insiders own 0.97% of the company’s stock.

Institutional Trading of MARA

Several institutional investors have recently added to or reduced their stakes in the business. Principal Financial Group Inc. grew 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 valued at $14,999,000 after buying an additional 35,978 shares during the last quarter. Hsbc Holdings PLC lifted its stake in shares of MARA by 11.5% in the 1st quarter. Hsbc Holdings PLC now owns 634,172 shares of the business services provider’s stock valued at $5,099,000 after acquiring an additional 65,220 shares during the last quarter. Delta Global Management LP bought a new stake in shares of MARA in the 1st quarter valued at about $5,064,000. Compass Rose Asset Management LP purchased a new stake in MARA during the 1st quarter valued at about $4,243,000. Finally, Headlands Technologies LLC boosted its holdings in MARA by 51.2% during the 2nd quarter. Headlands Technologies LLC now owns 444,756 shares of the business services provider’s stock valued at $6,178,000 after acquiring an additional 150,665 shares during the period. 44.53% of the stock is currently owned by hedge funds and other institutional investors.

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.