HC Wainwright Reiterates “Buy” Rating for MARA (NASDAQ:MARA)

MARA (NASDAQ:MARA)‘s stock had its “buy” rating reaffirmed by analysts at HC Wainwright in a research note issued to investors on Wednesday,Benzinga reports. They currently have a $28.00 price target on the business services provider’s stock. HC Wainwright’s price objective points to a potential upside of 34.68% from the company’s current price.

Other analysts have also recently issued research reports about the stock. Macquarie began coverage on shares of MARA in a research report on Tuesday, September 24th. They set an “outperform” rating and a $22.00 price objective on the stock. JPMorgan Chase & Co. dropped their price target on MARA from $14.00 to $12.00 and set an “underweight” rating for the company in a research note on Friday, August 23rd. Finally, Cantor Fitzgerald assumed coverage on MARA in a research report on Thursday, October 10th. They set an “overweight” rating and a $21.00 price objective on the stock. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, MARA currently has a consensus rating of “Hold” and an average target price of $21.57.

MARA Trading Down 4.2 %

Shares of MARA opened at $20.79 on Wednesday. MARA has a 1-year low of $9.16 and a 1-year high of $34.09. The company has a market capitalization of $6.12 billion, a P/E ratio of 26.32 and a beta of 5.52. The company has a debt-to-equity ratio of 0.13, a current ratio of 3.75 and a quick ratio of 3.75. The firm’s 50 day simple moving average is $17.23 and its 200 day simple moving average is $18.56.

Insider Buying and Selling at MARA

In related news, CEO Frederick G. Thiel sold 27,505 shares of the business’s stock in a transaction dated Wednesday, October 16th. The stock was sold at an average price of $17.50, for a total transaction of $481,337.50. Following the transaction, the chief executive officer now owns 4,250,804 shares in the company, valued at $74,389,070. The trade was a 0.64 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Salman Hassan Khan sold 16,700 shares of the stock in a transaction that occurred on 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 sale, the chief financial officer now owns 2,103,347 shares of the company’s stock, valued at approximately $33,022,547.90. This trade represents a 0.79 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 91,417 shares of company stock worth $1,524,546. 0.97% of the stock is currently owned by insiders.

Hedge Funds Weigh In On MARA

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Swiss National Bank increased its position in MARA by 5.4% during the 1st quarter. Swiss National Bank now owns 439,600 shares of the business services provider’s stock valued at $9,926,000 after purchasing an additional 22,600 shares during the period. ProShare Advisors LLC increased its position in shares of MARA by 13.3% during the first quarter. ProShare Advisors LLC now owns 41,626 shares of the business services provider’s stock valued at $940,000 after buying an additional 4,873 shares during the period. Vanguard Group Inc. raised its stake in MARA by 1.9% in the first quarter. Vanguard Group Inc. now owns 23,915,042 shares of the business services provider’s stock worth $540,002,000 after buying an additional 441,455 shares in the last quarter. Ameritas Investment Partners Inc. lifted its holdings in MARA by 4.1% in the first quarter. Ameritas Investment Partners Inc. now owns 22,359 shares of the business services provider’s stock worth $505,000 after buying an additional 881 shares during the period. Finally, American International Group Inc. boosted its position in MARA by 4.3% during the 1st quarter. American International Group Inc. now owns 110,489 shares of the business services provider’s stock valued at $2,495,000 after acquiring an additional 4,593 shares in the last quarter. Institutional investors own 44.53% of the company’s stock.

MARA Company Profile

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.