MARA (NASDAQ:MARA) Stock Price Up 6.7% Following Analyst Upgrade

MARA Holdings, Inc. (NASDAQ:MARA)’s stock price shot up 6.7% on Tuesday after Macquarie raised their price target on the stock from $22.00 to $29.00. Macquarie currently has an outperform rating on the stock. MARA traded as high as $19.41 and last traded at $19.31. 33,312,270 shares were traded during trading, a decline of 39% from the average session volume of 54,292,930 shares. The stock had previously closed at $18.10.

A number of other research analysts have also recently issued reports on the stock. Needham & Company LLC reaffirmed a “hold” rating on shares of MARA in a report on Wednesday, November 13th. JPMorgan Chase & Co. lowered their price target on MARA from $14.00 to $12.00 and set an “underweight” rating on the stock in a report on Friday, August 23rd. Cantor Fitzgerald started coverage on MARA in a report on Thursday, October 10th. They set an “overweight” rating and a $21.00 price objective for the company. Finally, HC Wainwright reissued a “buy” rating and issued a $28.00 target price on shares of MARA in a report on Wednesday, November 13th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, MARA has a consensus rating of “Hold” and a consensus target price of $22.57.

Insiders Place Their Bets

In related news, CFO Salman Hassan Khan sold 16,700 shares of the firm’s stock in a transaction that occurred on Wednesday, October 16th. The shares were sold at an average price of $17.50, for a total transaction of $292,250.00. Following the sale, the chief financial officer now owns 2,077,232 shares in the company, valued at approximately $36,351,560. This trade represents a 0.80 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Frederick G. Thiel sold 27,505 shares of the business’s stock in a transaction on Wednesday, October 16th. The shares were sold at an average price of $17.50, for a total value of $481,337.50. Following the completion of the transaction, the chief executive officer now owns 4,250,804 shares of the company’s stock, valued at $74,389,070. This trade represents a 0.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 91,417 shares of company stock valued at $1,524,546. Corporate insiders own 0.97% of the company’s stock.

Hedge Funds Weigh In On MARA

Hedge funds and other institutional investors have recently made changes to their positions in the business. Truvestments Capital LLC acquired a new stake in MARA during the 3rd quarter valued at approximately $26,000. Beaird Harris Wealth Management LLC lifted its stake in MARA by 121.1% during the first quarter. Beaird Harris Wealth Management LLC now owns 1,269 shares of the business services provider’s stock worth $29,000 after purchasing an additional 695 shares during the last quarter. Larson Financial Group LLC boosted its holdings in MARA by 124.2% in the third quarter. Larson Financial Group LLC now owns 1,917 shares of the business services provider’s stock worth $31,000 after purchasing an additional 1,062 shares during the period. Signaturefd LLC boosted its holdings in shares of MARA by 74.8% in the 3rd quarter. Signaturefd LLC now owns 2,975 shares of the business services provider’s stock valued at $48,000 after buying an additional 1,273 shares during the period. Finally, Capital Performance Advisors LLP bought a new position in MARA in the third quarter worth about $50,000. Institutional investors and hedge funds own 44.53% of the company’s stock.

MARA Price Performance

The company has a debt-to-equity ratio of 0.22, a current ratio of 4.00 and a quick ratio of 4.00. The company has a fifty day moving average price of $17.53 and a 200 day moving average price of $18.64. The company has a market capitalization of $6.39 billion, a P/E ratio of 25.14 and a beta of 5.52.

MARA (NASDAQ:MARA) last posted its earnings results on Tuesday, November 12th. The business services provider reported ($0.42) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.38) by ($0.04). The company had revenue of $131.60 million during the quarter, compared to the consensus estimate of $140.26 million. MARA had a net margin of 27.48% and a negative return on equity of 8.40%. The business’s quarterly revenue was up 34.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.05) earnings per share. On average, sell-side analysts forecast that MARA Holdings, Inc. will post -0.72 EPS for the current fiscal year.

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.