MARA (NASDAQ:MARA) Shares Up 8.8% – Here’s Why

MARA Holdings, Inc. (NASDAQ:MARA) shot up 8.8% during mid-day trading on Monday . The stock traded as high as $20.98 and last traded at $19.91. 88,152,809 shares traded hands during mid-day trading, an increase of 155% from the average session volume of 34,581,244 shares. The stock had previously closed at $18.30.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. Piper Sandler started 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. Needham & Company LLC reiterated a “hold” rating on shares of MARA in a research note on Wednesday, November 13th. B. Riley raised their target price on MARA from $21.00 to $23.00 and gave the stock a “neutral” rating in a research note on Thursday, December 19th. Barclays began coverage on MARA in a research report on Monday, November 25th. They set an “equal weight” rating and a $27.00 price target on the stock. Finally, HC Wainwright reaffirmed a “buy” rating and set a $28.00 price objective on shares of MARA in a research note on Wednesday, December 4th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $25.67.

MARA Price Performance

The firm’s 50-day moving average is $21.63 and its 200-day moving average is $19.10. 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 $6.41 billion, a PE ratio of 25.20 and a beta of 5.76.

MARA (NASDAQ:MARA) last released its earnings results on Tuesday, November 12th. The business services provider reported ($0.42) EPS for the quarter, missing analysts’ consensus estimates of ($0.38) by ($0.04). MARA had a net margin of 27.48% and a negative return on equity of 8.40%. The firm had revenue of $131.60 million during the quarter, compared to analysts’ expectations of $140.26 million. During the same quarter in the previous year, the business earned ($0.05) EPS. The company’s revenue for the quarter was up 34.4% compared to the same quarter last year. On average, equities analysts anticipate that MARA Holdings, Inc. will post -1.09 EPS for the current year.

Insiders Place Their Bets

In other news, CEO Frederick G. Thiel sold 27,505 shares of the company’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $19.80, for a total transaction of $544,599.00. Following the transaction, the chief executive officer now directly owns 4,155,595 shares of the company’s stock, valued at $82,280,781. This represents a 0.66 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Salman Hassan Khan sold 16,700 shares of MARA stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $23.50, for a total value of $392,450.00. Following the completion of the sale, the chief financial officer now owns 1,836,129 shares of the company’s stock, valued at $43,149,031.50. The trade was a 0.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 109,410 shares of company stock valued at $2,485,329. 0.97% of the stock is currently owned by corporate insiders.

Institutional Trading of MARA

A number of institutional investors have recently made changes to their positions in the stock. Janney Montgomery Scott LLC increased its position in MARA by 21.1% during the fourth quarter. Janney Montgomery Scott LLC now owns 15,545 shares of the business services provider’s stock valued at $261,000 after acquiring an additional 2,712 shares during the last quarter. Lake Hills Wealth Management LLC raised its holdings in MARA by 27.1% in the 4th quarter. Lake Hills Wealth Management LLC now owns 12,987 shares of the business services provider’s stock worth $218,000 after purchasing an additional 2,766 shares during the period. Sara Bay Financial lifted its position in MARA by 5.3% during the fourth quarter. Sara Bay Financial now owns 122,655 shares of the business services provider’s stock valued at $2,121,000 after purchasing an additional 6,141 shares in the last quarter. Arkadios Wealth Advisors bought a new stake in MARA during the fourth quarter valued at about $231,000. Finally, Fiduciary Alliance LLC purchased a new stake in MARA in the fourth quarter worth about $397,000. 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.