MARA (NASDAQ:MARA) Stock Jumps 4.6% on Strong Earnings

Shares of MARA Holdings (NASDAQ:MARA) were up 4.6% on Monday after the company announced better than expected quarterly earnings. The company traded as high as $6.73 and last traded at $6.64. Approximately 41,859,972 shares traded hands during trading, a decline of 7% from the average session volume of 44,932,543 shares. The stock had previously closed at $6.35.

The business services provider reported $1.28 EPS for the quarter, topping analysts’ consensus estimates of ($0.39) by $1.67. MARA had a negative net margin of 429.71% and a negative return on equity of 26.05%. The company had revenue of $164.23 million for the quarter, compared to analyst estimates of $183.24 million.

More MARA News

Here are the key news stories impacting MARA this week:

• Positive Sentiment: Traders bought an unusually high volume of MARA call options, suggesting some investors are positioning for potential upside around the earnings announcement. Call activity does not guarantee a positive move. Traders Buy High Volume of MARA Call Options
• Neutral Sentiment: MARA was among the companies expected to report earnings on November 9, putting its quarterly results and outlook in focus as near-term catalysts. Options Volatility and Implied Earnings Moves Today A separate preview also discussed expectations for the report. MARA heads into Q3 earnings
• Negative Sentiment: A crypto earnings preview said MARA and two other crypto-related stocks had each fallen at least 37% since September 30, amid a weaker November. That recent sector weakness may weigh on sentiment, while results could renew concerns about the outlook. Crypto Earnings to Watch

Wall Street Analysts Forecast Growth

MARA has been the topic of several recent research reports. Weiss Ratings downgraded MARA from a “sell (d)” rating to a “sell (d-)” rating in a report on Friday, October 23rd. HC Wainwright started coverage on MARA in a research report on Friday, September 11th. They issued a “buy” rating and a $20.00 price target on the stock. Rosenblatt Securities reissued a “buy” rating and issued a $15.00 price target on shares of MARA in a research note on Friday, August 7th. Piper Sandler reissued an “overweight” rating and issued a $11.00 price target (down from $13.00) on shares of MARA in a research note on Tuesday, October 20th. Finally, JPMorgan Chase & Co. downgraded MARA from an “overweight” rating to an “underweight” rating and lowered their price objective for the stock from $13.00 to $11.00 in a research report on Monday, September 14th. Seven equities research analysts have rated the stock with a Buy rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $17.78.

Insider Activity

In related news, 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 transaction, the general counsel owned 898,780 shares of the company’s stock, valued at $10,785,360. This trade represents a 0.92% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Salman Khan sold 16,000 shares of the business’s 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 completion of the transaction, the chief financial officer owned 377,066 shares in the company, valued at approximately $3,472,777.86. The trade was 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 three months, insiders have sold 134,396 shares of company stock valued at $1,311,490. 0.97% of the stock is currently owned by insiders.

Institutional Trading of MARA

A number of large investors have recently bought and sold shares of the business. CI Investments Inc. lifted its stake in shares of MARA by 7.6% in the 1st quarter. CI Investments Inc. now owns 13,520 shares of the business services provider’s stock valued at $110,000 after purchasing an additional 957 shares during the period. Greenleaf Trust grew its stake in MARA by 9.9% during the second quarter. Greenleaf Trust now owns 11,915 shares of the business services provider’s stock worth $165,000 after purchasing an additional 1,076 shares during the period. MassMutual Private Wealth & Trust FSB grew its stake in MARA by 58.2% during the third 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 period. Sigma Planning Corp grew its stake in MARA by 12.5% during the first quarter. Sigma Planning Corp now owns 13,409 shares of the business services provider’s stock worth $109,000 after purchasing an additional 1,485 shares during the period. Finally, NewEdge Advisors LLC increased its holdings in MARA by 14.9% in the second quarter. NewEdge Advisors LLC now owns 12,320 shares of the business services provider’s stock worth $171,000 after purchasing an additional 1,598 shares in the last quarter. 44.53% of the stock is currently owned by institutional investors and hedge funds.

MARA Stock Performance

The firm has a market capitalization of $2.57 billion, a P/E ratio of -0.72 and a beta of 5.23. The stock has a fifty day simple moving average of $9.88 and a two-hundred day simple moving average of $10.68. The company has a debt-to-equity ratio of 1.15, a current ratio of 0.89 and a quick ratio of 0.89.

About MARA

MARA Holdings, Inc, formerly known as Marathon Digital Holdings, is a digital energy and infrastructure company focused primarily on Bitcoin mining. It develops and operates data-center infrastructure and specialized computing systems used to validate transactions on the Bitcoin network and earn bitcoin rewards.

The company also works on energy-related strategies to support its computing operations, including using energy sources and infrastructure that can help power data centers. Its operations are concentrated in the United States, with expansion into international markets.

Marathon Patent Group, the company’s predecessor, was founded in 2010 and later shifted its focus to digital assets and Bitcoin mining.