MARA (NASDAQ:MARA) Shares Up 5.8% – What’s Next?

MARA Holdings, Inc. (NASDAQ:MARA)’s stock price shot up 5.8% during trading on Wednesday . The company traded as high as $12.48 and last traded at $12.52. 14,872,223 shares were traded during mid-day trading, a decline of 67% from the average session volume of 45,316,920 shares. The stock had previously closed at $11.84.

Analyst Ratings Changes

Several brokerages have issued reports on MARA. Rosenblatt Securities initiated coverage on MARA in a research note on Friday, March 7th. They issued a “buy” rating and a $19.00 target price on the stock. HC Wainwright reiterated a “buy” rating and issued a $28.00 target price on shares of MARA in a research note on Thursday, February 27th. B. Riley upped their price target on shares of MARA from $21.00 to $23.00 and gave the company a “neutral” rating in a research note on Thursday, December 19th. Piper Sandler lowered their target price on shares of MARA from $34.00 to $30.00 and set an “overweight” rating on the stock in a report on Monday, March 3rd. Finally, JPMorgan Chase & Co. reduced their price target on MARA from $23.00 to $18.00 and set a “neutral” rating for the company in a research report on Thursday, March 13th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $22.80.

MARA Trading Up 5.9 %

The stock’s 50 day simple moving average is $15.20 and its 200 day simple moving average is $18.01. The firm has a market cap of $4.34 billion, a PE ratio of 15.87 and a beta of 6.09. The company has a debt-to-equity ratio of 0.22, a quick ratio of 4.00 and a current ratio of 4.00.

MARA (NASDAQ:MARA) last posted its quarterly earnings results on Wednesday, February 26th. The business services provider reported $1.24 EPS for the quarter, topping the consensus estimate of ($0.32) by $1.56. MARA had a net margin of 27.48% and a negative return on equity of 8.40%. The firm had revenue of $214.39 million for the quarter, compared to the consensus estimate of $187.11 million. On average, sell-side analysts forecast that MARA Holdings, Inc. will post -1.04 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Frederick G. Thiel sold 27,505 shares of MARA stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $16.68, for a total value of $458,783.40. Following the transaction, the chief executive officer now directly owns 3,910,843 shares of the company’s stock, valued at $65,232,861.24. The trade was a 0.70 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Salman Hassan Khan sold 16,700 shares of the company’s stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $15.31, for a total transaction of $255,677.00. Following the sale, the chief financial officer now owns 1,773,788 shares of the company’s stock, valued at $27,156,694.28. This represents a 0.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 72,710 shares of company stock valued at $1,226,825 over the last three months. Insiders own 0.80% of the company’s stock.

Hedge Funds Weigh In On MARA

Hedge funds have recently modified their holdings of the company. Beacon Capital Management LLC bought a new stake in shares of MARA in the fourth quarter worth about $26,000. Park Square Financial Group LLC purchased a new stake in MARA in the 4th quarter worth approximately $27,000. Sterling Capital Management LLC grew its position in shares of MARA by 358.3% in the 4th quarter. Sterling Capital Management LLC now owns 1,824 shares of the business services provider’s stock worth $31,000 after buying an additional 1,426 shares during the last quarter. Stonehage Fleming Financial Services Holdings Ltd increased its stake in shares of MARA by 79.3% during the fourth quarter. Stonehage Fleming Financial Services Holdings Ltd now owns 1,945 shares of the business services provider’s stock valued at $33,000 after buying an additional 860 shares during the period. Finally, Spire Wealth Management raised its holdings in shares of MARA by 26.7% during the fourth quarter. Spire Wealth Management now owns 2,843 shares of the business services provider’s stock valued at $48,000 after acquiring an additional 599 shares in the last quarter. Hedge funds and other institutional investors own 44.53% of the company’s stock.

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.