MARA (NASDAQ:MARA) Shares Up 4.6% – Here’s What Happened

MARA Holdings (NASDAQ:MARAGet Free Report) shares were up 4.6% during mid-day trading on Tuesday . The stock traded as high as $12.06 and last traded at $11.83. 53,264,777 shares traded hands during trading, an increase of 15% from the average daily volume of 46,220,684 shares. The stock had previously closed at $11.31.

Analysts Set New Price Targets

Several analysts have weighed in on the company. Weiss Ratings upgraded MARA from a “sell (d-)” rating to a “sell (d)” rating in a research report on Friday, August 21st. Piper Sandler decreased their target price on shares of MARA from $16.00 to $13.00 and set an “overweight” rating on the stock in a research note on Friday, July 17th. Citizens Jmp started coverage on shares of MARA in a report on Wednesday, June 24th. They set a “market outperform” rating and a $24.00 price target for the company. Rosenblatt Securities reissued a “buy” rating and set a $15.00 price target on shares of MARA in a research report on Friday, August 7th. Finally, Cantor Fitzgerald cut their price target on shares of MARA from $14.00 to $12.00 and set an “overweight” rating on the stock in a report on Friday, August 7th. Eight analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $18.78.

View Our Latest Report on MARA

MARA Trading Down 4.1%

The firm has a market cap of $4.42 billion, a PE ratio of -1.25 and a beta of 5.32. The firm has a fifty day simple moving average of $11.27 and a two-hundred day simple moving average of $11.32. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 1.15.

MARA (NASDAQ:MARAGet Free Report) last posted its earnings results on Thursday, August 6th. The business services provider reported ($1.60) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.17 by ($1.77). The business had revenue of $174.88 million for the quarter, compared to analysts’ expectations of $209.44 million. MARA had a negative net margin of 429.71% and a negative return on equity of 26.05%. MARA’s quarterly revenue was down 26.7% on a year-over-year basis. During the same period last year, the firm posted $1.84 earnings per share. Equities analysts forecast that MARA Holdings will post -1.24 EPS for the current year.

Insider Activity at MARA

In other news, General Counsel Zabi Nowaid sold 8,376 shares of the firm’s stock in a transaction dated Friday, August 21st. The shares were sold at an average price of $12.00, for a total value of $100,512.00. Following the completion of the sale, the general counsel directly owned 898,780 shares of the company’s stock, valued at approximately $10,785,360. This trade represents a 0.92% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Frederick G. Thiel sold 27,505 shares of MARA stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $9.21, for a total transaction of $253,321.05. Following the sale, the chief executive officer directly owned 4,335,697 shares in the company, valued at $39,931,769.37. The trade was a 0.63% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders have sold 109,386 shares of company stock worth $1,332,889. 0.97% of the stock is currently owned by insiders.

Hedge Funds Weigh In On MARA

Institutional investors have recently bought and sold shares of the stock. UBS Group AG lifted its holdings in MARA by 104.1% in the third quarter. UBS Group AG now owns 12,098,686 shares of the business services provider’s stock worth $220,922,000 after buying an additional 6,172,110 shares during the period. California State Teachers Retirement System lifted its stake in shares of MARA by 1,266.3% in the 2nd quarter. California State Teachers Retirement System now owns 5,629,700 shares of the business services provider’s stock valued at $78,197,000 after purchasing an additional 5,217,648 shares during the period. Voloridge Investment Management LLC purchased a new position in shares of MARA in the 3rd quarter valued at approximately $93,066,000. Norges Bank bought a new stake in shares of MARA during the fourth quarter valued at approximately $39,492,000. Finally, Van ECK Associates Corp boosted its position in shares of MARA by 125.4% during the fourth quarter. Van ECK Associates Corp now owns 2,727,069 shares of the business services provider’s stock valued at $24,489,000 after purchasing an additional 1,516,937 shares in the last quarter. 44.53% of the stock is owned by institutional investors.

About MARA

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MARA Holdings, Inc is an energy and digital infrastructure company whose core business is Bitcoin mining. Headquartered in Hallandale Beach, Florida, the company operates large-scale computing infrastructure designed to convert energy into high-value compute workloads.

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