MARA (NASDAQ:MARA) Stock Price Up 4.7% – Still a Buy?

MARA Holdings, Inc. (NASDAQ:MARA) shares were up 4.7% on Wednesday . The company traded as high as $20.27 and last traded at $20.15. Approximately 20,546,449 shares changed hands during trading, a decline of 64% from the average daily volume of 56,557,246 shares. The stock had previously closed at $19.25.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on MARA shares. Cantor Fitzgerald started coverage on shares of MARA in a research note on Thursday, October 10th. They set an “overweight” rating and a $21.00 price objective on the stock. Piper Sandler initiated coverage on MARA in a report on Tuesday, December 17th. They set an “overweight” rating and a $34.00 target price for the company. B. Riley boosted their price target on MARA from $21.00 to $23.00 and gave the company a “neutral” rating in a research note on Thursday, December 19th. HC Wainwright reaffirmed a “buy” rating and set a $28.00 price objective on shares of MARA in a research report on Wednesday, December 4th. Finally, Macquarie raised their target price on MARA from $22.00 to $29.00 and gave the company an “outperform” rating in a report on Monday, November 18th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $25.80.

MARA Trading Down 4.2 %

The company has a quick ratio of 4.00, a current ratio of 4.00 and a debt-to-equity ratio of 0.22. The company has a market cap of $6.21 billion, a P/E ratio of 24.43 and a beta of 5.63. The firm’s 50 day moving average is $21.55 and its two-hundred day moving average is $19.33.

MARA (NASDAQ:MARA) last issued its quarterly earnings results on Tuesday, November 12th. The business services provider reported ($0.42) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.38) by ($0.04). The business had revenue of $131.60 million for 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% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.05) earnings per share. As a group, equities research analysts anticipate that MARA Holdings, Inc. will post -1.02 EPS for the current year.

Insiders Place Their Bets

In related news, Director Jay P. Leupp sold 6,800 shares of the company’s stock in a transaction on Friday, November 29th. The stock was sold at an average price of $29.90, for a total transaction of $203,320.00. Following the completion of the sale, the director now owns 135,756 shares in the company, valued at approximately $4,059,104.40. This represents a 4.77 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Salman Hassan Khan sold 16,700 shares of the stock in a transaction dated Wednesday, October 16th. The shares were sold at an average price of $17.50, for a total transaction of $292,250.00. Following the completion of the sale, the chief financial officer now owns 2,077,232 shares of the company’s stock, valued at approximately $36,351,560. This represents a 0.80 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 153,615 shares of company stock worth $3,258,686. 0.97% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On MARA

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Truvestments Capital LLC purchased a new stake in shares of MARA during the 3rd quarter valued at $26,000. Larson Financial Group LLC grew its position in shares of MARA by 124.2% during the 3rd quarter. Larson Financial Group LLC now owns 1,917 shares of the business services provider’s stock valued at $31,000 after acquiring an additional 1,062 shares during the period. Signaturefd LLC increased its stake in shares of MARA by 74.8% during the 3rd quarter. Signaturefd LLC now owns 2,975 shares of the business services provider’s stock worth $48,000 after purchasing an additional 1,273 shares during the last quarter. Capital Performance Advisors LLP bought a new stake in shares of MARA in the third quarter valued at $50,000. Finally, Tobam boosted its position in MARA by 173.0% during the third quarter. Tobam now owns 7,701 shares of the business services provider’s stock worth $125,000 after purchasing an additional 4,880 shares during the period. Hedge funds and other 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.