MARA (NASDAQ:MARA) Shares Up 3% – Here’s What Happened

Shares of MARA Holdings, Inc. (NASDAQ:MARA) were up 3% during mid-day trading on Wednesday . The stock traded as high as $27.32 and last traded at $25.72. Approximately 37,795,914 shares traded hands during trading, a decline of 32% from the average daily volume of 55,900,648 shares. The stock had previously closed at $24.97.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on MARA shares. Barclays initiated coverage on MARA in a report on Monday. They issued an “equal weight” rating and a $27.00 target price on the stock. Cantor Fitzgerald initiated coverage on MARA in a research report on Thursday, October 10th. They set an “overweight” rating and a $21.00 price objective for the company. JPMorgan Chase & Co. reduced their price target on MARA from $14.00 to $12.00 and set an “underweight” rating for the company in a research report on Friday, August 23rd. Macquarie upped their price objective on shares of MARA from $22.00 to $29.00 and gave the company an “outperform” rating in a research report on Monday, November 18th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $28.00 price target on shares of MARA in a research note on Wednesday, November 13th. Two analysts have rated the stock with a sell rating, five have issued a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, MARA presently has an average rating of “Hold” and an average target price of $23.33.

MARA Stock Performance

The firm has a market cap of $8.66 billion, a price-to-earnings ratio of 34.08 and a beta of 5.52. The stock has a 50 day moving average of $18.88 and a 200 day moving average of $18.93. The company has a quick ratio of 4.00, a current ratio of 4.00 and a debt-to-equity ratio of 0.22.

MARA (NASDAQ:MARA) last issued its earnings results on Tuesday, November 12th. The business services provider reported ($0.42) EPS for the quarter, missing the consensus estimate of ($0.38) by ($0.04). MARA had a negative return on equity of 8.40% and a net margin of 27.48%. The business had revenue of $131.60 million for the quarter, compared to analyst estimates of $140.26 million. During the same period in the previous year, the firm posted ($0.05) EPS. The firm’s revenue was up 34.4% compared to the same quarter last year. As a group, analysts anticipate that MARA Holdings, Inc. will post -1.02 EPS for the current fiscal year.

Insiders Place Their Bets

In other MARA news, CFO Salman Hassan Khan sold 16,700 shares of the firm’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $15.70, for a total value of $262,190.00. Following the completion of the transaction, the chief financial officer now owns 2,103,347 shares in the company, valued at $33,022,547.90. This trade represents a 0.79 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Jay P. Leupp sold 11,200 shares of MARA stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $27.06, for a total value of $303,072.00. Following the sale, the director now owns 142,556 shares of the company’s stock, valued at approximately $3,857,565.36. This trade represents a 7.28 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 146,822 shares of company stock worth $2,702,877. Corporate insiders own 0.97% of the company’s stock.

Hedge Funds Weigh In On MARA

A number of large investors have recently modified their holdings of MARA. Truvestments Capital LLC purchased a new position in MARA in the 3rd quarter worth approximately $26,000. Larson Financial Group LLC boosted its position in shares of MARA by 124.2% during the third quarter. Larson Financial Group LLC now owns 1,917 shares of the business services provider’s stock valued at $31,000 after purchasing an additional 1,062 shares in the last quarter. Signaturefd LLC boosted its holdings in MARA by 74.8% in the third quarter. Signaturefd LLC now owns 2,975 shares of the business services provider’s stock worth $48,000 after acquiring an additional 1,273 shares in the last quarter. Capital Performance Advisors LLP bought a new stake in MARA in the third quarter worth $50,000. Finally, DekaBank Deutsche Girozentrale bought a new stake in MARA in the first quarter worth $105,000. 44.53% of the stock is owned by hedge funds and other institutional investors.

About MARA

MARA Holdings, Inc operates as a digital asset technology company that mines digital assets with a focus on the bitcoin ecosystem in United States. The company was formerly known as Marathon Digital Holdings, Inc and changed its name to MARA Holdings, Inc in August 2024. MARA Holdings, Inc was incorporated in 2010 and is headquartered in Fort Lauderdale, Florida.