MARA (NASDAQ:MARA) Stock Price Up 1.5% - Here's Why
MARA Holdings, Inc. (NASDAQ:MARA) saw its stock price increase by 1.5% to $17.05, with 16.4 million shares traded. Analysts have set new price targets, with B. Riley raising theirs to $23.00 and Barclays initiating coverage at $27.00. The company reported a quarterly EPS of ($0.42), missing estimates, but revenue rose 34.4% year-over-year. Insider selling occurred, with CFO Salman Khan and CEO Frederick Thiel selling shares. Hedge funds have also adjusted their positions in MARA recently, indicating ongoing interest in the stock.
MARA Holdings, Inc. (NASDAQ:MARA - Get Free Report)'s stock price traded up 1.5% on Friday . The stock traded as high as $17.86 and last traded at $17.05. 16,463,269 shares traded hands during trading, a decline of 55% from the average session volume of 36,676,223 shares. The stock had previously closed at $16.80.
Analysts Set New Price Targets
- MarketBeat Week in Review – 11/11 - 11/15
A number of equities analysts have recently commented on MARA shares. B. Riley raised their target price on shares of MARA from $21.00 to $23.00 and gave the stock a "neutral" rating in a research report on Thursday, December 19th. Barclays initiated coverage on MARA in a report on Monday, November 25th. They issued an "equal weight" rating and a $27.00 target price for the company. JPMorgan Chase & Co. upgraded MARA from an "underweight" rating to a "neutral" rating and raised their price target for the company from $12.00 to $23.00 in a research note on Tuesday, December 10th. Piper Sandler began coverage on shares of MARA in a research note on Tuesday, December 17th. They issued an "overweight" rating and a $34.00 price objective for the company. Finally, Compass Point downgraded shares of MARA from a "buy" rating to a "neutral" rating and raised their target price for the company from $21.00 to $25.00 in a research report on Thursday, November 21st. One investment analyst has rated the stock with a sell rating, six have given a hold rating and four have issued a buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $25.67.
View Our Latest Research Report on MARA
MARA Stock Performance
- Top-Performing Non-Leveraged ETFs This Year
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 capitalization of $5.69 billion, a PE ratio of 21.23 and a beta of 5.76. The business has a 50 day simple moving average of $20.25 and a 200 day simple moving average of $18.82.
MARA (NASDAQ:MARA - Get Free Report) last issued its quarterly 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 for the quarter, compared to analyst estimates of $140.26 million. MARA had a net margin of 27.48% and a negative return on equity of 8.40%. The company's revenue for the quarter was up 34.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.05) EPS. Equities research analysts predict that MARA Holdings, Inc. will post -1.04 EPS for the current fiscal year.
Insider Buying and Selling at MARA
- Is MARA a Safe Way to Get Exposure to the Bitcoin Rally?
In other MARA news, CFO Salman Hassan Khan sold 16,700 shares of the stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $19.80, for a total transaction of $330,660.00. Following the sale, the chief financial officer now directly owns 2,029,647 shares of the company's stock, valued at approximately $40,187,010.60. This trade represents a 0.82 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Frederick G. Thiel sold 27,505 shares of the company's stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $19.80, for a total value of $544,599.00. Following the completion of the sale, the chief executive officer now owns 4,155,595 shares in the company, valued at $82,280,781. The trade was a 0.66 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 136,915 shares of company stock worth $2,980,694. 0.80% of the stock is currently owned by insiders.
Hedge Funds Weigh In On MARA
Several large investors have recently made changes to their positions in MARA. Sei Investments Co. purchased a new position in MARA in the second quarter valued at $201,000. Creative Planning increased its stake in shares of MARA by 26.4% in the 2nd quarter. Creative Planning now owns 28,890 shares of the business services provider's stock valued at $573,000 after purchasing an additional 6,035 shares in the last quarter. Handelsbanken Fonder AB raised its holdings in MARA by 19.6% in the 3rd quarter. Handelsbanken Fonder AB now owns 70,700 shares of the business services provider's stock worth $1,147,000 after purchasing an additional 11,600 shares during the period. 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 in the last quarter. Finally, LifePro Asset Management acquired a new stake in MARA in the third quarter valued at approximately $2,250,000. 44.53% of the stock is currently owned by institutional investors and hedge funds.
About MARA
(Get Free Report)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.
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