MARA’s (MARA) “Hold” Rating Reiterated at Needham & Company LLC

Needham & Company LLC reiterated their hold rating on shares of MARA (NASDAQ:MARA) in a research report released on Wednesday,Benzinga reports.

Other equities research analysts have also issued reports about the stock. HC Wainwright reiterated a “buy” rating and set a $28.00 target price on shares of MARA in a report on Wednesday. JPMorgan Chase & Co. reduced their target price on shares of MARA from $14.00 to $12.00 and set an “underweight” rating on the stock in a report on Friday, August 23rd. Macquarie began coverage on shares of MARA in a report on Tuesday, September 24th. They issued an “outperform” rating and a $22.00 price objective on the stock. Finally, Cantor Fitzgerald began coverage on shares of MARA in a report on Thursday, October 10th. They issued an “overweight” rating and a $21.00 price objective on the stock. Two analysts have rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, MARA has an average rating of “Hold” and a consensus price target of $21.57.

MARA Trading Up 1.3 %

Shares of MARA stock traded up $0.28 during mid-day trading on Wednesday, hitting $21.07. The stock had a trading volume of 42,768,842 shares, compared to its average volume of 54,079,977. The firm has a 50-day moving average of $17.38 and a two-hundred day moving average of $18.58. MARA has a 12-month low of $9.21 and a 12-month high of $34.09. The company has a quick ratio of 3.75, a current ratio of 4.00 and a debt-to-equity ratio of 0.22. The firm has a market cap of $6.78 billion, a P/E ratio of 26.67 and a beta of 5.52.

MARA (NASDAQ:MARA) last issued its quarterly earnings data 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). The company had revenue of $131.60 million during the quarter, compared to analyst estimates of $140.26 million. MARA had a negative return on equity of 8.40% and a net margin of 27.48%. The business’s revenue was up 34.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.05) earnings per share. Sell-side analysts forecast that MARA will post -1.05 earnings per share for the current year.

Insider Activity at MARA

In related news, CFO Salman Hassan Khan sold 16,700 shares of the stock in a transaction on Wednesday, October 16th. The shares were sold at an average price of $17.50, for a total value of $292,250.00. Following the transaction, the chief financial officer now directly owns 2,077,232 shares of the company’s stock, valued at $36,351,560. This trade represents a 0.80 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Frederick G. Thiel sold 27,505 shares of the firm’s stock in a transaction on 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 directly owns 4,250,804 shares in the company, valued at $74,389,070. The trade was a 0.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 91,417 shares of company stock valued at $1,524,546 in the last ninety days. Insiders own 0.97% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Private Advisor Group LLC grew its position in MARA by 27.7% during the 3rd quarter. Private Advisor Group LLC now owns 226,199 shares of the business services provider’s stock worth $3,669,000 after purchasing an additional 49,062 shares during the last quarter. Everence Capital Management Inc. purchased a new position in MARA during the 3rd quarter worth $640,000. Rhumbline Advisers boosted its holdings in shares of MARA by 126.5% in the second quarter. Rhumbline Advisers now owns 786,643 shares of the business services provider’s stock valued at $15,615,000 after acquiring an additional 439,309 shares in the last quarter. Thrivent Financial for Lutherans purchased a new stake in shares of MARA in the second quarter valued at about $4,498,000. Finally, Public Sector Pension Investment Board purchased a new stake in shares of MARA in the second quarter valued at about $11,920,000. 44.53% of the stock is owned by hedge funds and other institutional investors.

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.