MARA (NASDAQ:MARA) Stock Jumps 1.4% – Here’s What Happened

MARA Holdings (NASDAQ:MARA – Get Free Report) rose 1.4% during trading on Tuesday. The stock traded as high as $7.83 and last traded at $7.48. Approximately 36,396,340 shares traded hands during mid-day trading, a decline of 20% from the average session volume of 45,432,770 shares. The stock had previously closed at $7.38.

Trending Headlines about MARA

Here are the key news stories impacting MARA this week:

  • Positive Sentiment: Piper Sandler reduced its price target for MARA Holdings but maintained an Overweight rating. The continued bullish rating suggests the analyst still sees long-term upside despite the reversal in the AI trade, hotter inflation, and higher borrowing costs. MARA, RIOT, HUT, GLXY See Price Cuts From Piper Sandler Amid AI Trade Reversal, Hotter Inflation, Pricier Debt
  • Neutral Sentiment: MARA-linked wallets transferred approximately 1,000 Bitcoin, worth about $82.8 million, to Binance and Gate. Exchange deposits can precede selling, but the transactions do not confirm that MARA sold the coins. Any confirmed liquidation would likely pressure the stock, while retaining the Bitcoin would reduce that concern. MARA-Linked Wallets Send 1,000 Bitcoin To Exchanges, But A Sale Is Unconfirmed
  • Negative Sentiment: MARA mined 2,422 Bitcoin in the second quarter, but revenue declined 27% to $174.9 million because the average value of mined coins was lower. The weak results, including a sizable earnings miss, underscore pressure on profitability and help explain management’s push to diversify beyond Bitcoin mining. MARA Holdings Mined More Bitcoin, but Revenue Fell 27%
  • Negative Sentiment: Bitcoin-mining difficulty increased 5.9% while Bitcoin weakened, creating a double squeeze on miners’ revenue and margins. In addition, Strive expanded its Bitcoin treasury to 36,818 BTC, moving ahead of MARA in publicly reported holdings and increasing competitive pressure for investor attention. Bitcoin Mining Just Got 6% Harder While BTC Fell

Analyst Upgrades and Downgrades

Several research analysts have weighed in on MARA shares. JPMorgan Chase & Co. restated an “underweight” rating and set a $11.00 target price (down from $13.00) on shares of MARA in a research report on Monday, September 14th. Piper Sandler reiterated an “overweight” rating and set a $11.00 price target (down from $13.00) on shares of MARA in a research report on Tuesday. Rosenblatt Securities reissued a “buy” rating and set a $15.00 price target on shares of MARA in a research note on Friday, August 7th. Morgan Stanley set a $10.00 price target on MARA and gave the stock an “underweight” rating in a report on Friday, October 9th. Finally, Cantor Fitzgerald dropped their price objective on MARA from $14.00 to $12.00 and set an “overweight” rating for the company in a research note on Friday, August 7th. Eight equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat, MARA has a consensus rating of “Hold” and a consensus target price of $18.90.

View Our Latest Report on MARA

MARA Stock Up 1.4%

The company has a debt-to-equity ratio of 1.15, a quick ratio of 0.89 and a current ratio of 0.89. The firm’s 50-day moving average is $10.85 and its 200 day moving average is $11.79. The firm has a market capitalization of $2.89 billion, a PE ratio of -0.82 and a beta of 5.33.

MARA (NASDAQ:MARA – Get Free Report) last posted its earnings results on Thursday, August 6th. The business services provider reported ($1.60) earnings per share 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%. The business’s revenue was down 26.7% compared to the same quarter last year. During the same quarter last year, the business posted $1.84 earnings per share. As a group, research analysts forecast that MARA Holdings will post -1.65 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO Frederick G. Thiel sold 27,505 shares of MARA stock in a transaction that occurred on Thursday, October 1st. The stock was sold at an average price of $11.22, for a total transaction of $308,606.10. Following the completion of the transaction, the chief executive officer directly owned 4,217,586 shares in the company, valued at $47,321,314.92. The trade was a 0.65% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Salman Khan sold 16,000 shares of the company’s stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $9.21, for a total value of $147,360.00. Following the completion of the sale, the chief financial officer directly owned 377,066 shares in the company, valued at approximately $3,472,777.86. The trade was a 4.07% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 106,891 shares of company stock worth $1,124,731 over the last ninety days. 0.97% of the stock is currently owned by insiders.

Institutional Investors Weigh In On MARA

A number of large investors have recently bought and sold shares of the stock. Ascentis Independent Advisors acquired a new position in MARA in the 1st quarter valued at about $28,000. Bogart Wealth LLC lifted its holdings in MARA by 4,345.1% in the 1st quarter. Bogart Wealth LLC now owns 4,045 shares of the business services provider’s stock valued at $33,000 after purchasing an additional 3,954 shares in the last quarter. IFP Advisors Inc boosted its stake in shares of MARA by 1,154.9% during the 2nd quarter. IFP Advisors Inc now owns 2,422 shares of the business services provider’s stock worth $34,000 after purchasing an additional 2,229 shares during the last quarter. MassMutual Private Wealth & Trust FSB boosted its stake in shares of MARA by 58.2% during the 3rd quarter. MassMutual Private Wealth & Trust FSB now owns 4,009 shares of the business services provider’s stock worth $45,000 after purchasing an additional 1,475 shares during the last quarter. Finally, Activest Wealth Management boosted its stake in shares of MARA by 300.0% during the 3rd quarter. Activest Wealth Management now owns 4,000 shares of the business services provider’s stock worth $45,000 after purchasing an additional 3,000 shares during the last quarter. Institutional investors and hedge funds own 44.53% of the company’s stock.

About MARA

(Get Free Report)

MARA Holdings, Inc (NASDAQ: MARA), formerly known as Marathon Digital Holdings, is a digital asset mining and energy infrastructure company. Its primary business is securing the Bitcoin network by operating specialized computing equipment that validates transactions and earns Bitcoin rewards.

The company develops and operates data centers and digital asset computing infrastructure, while also pursuing strategies to access low-cost and surplus energy. MARA has expanded its operations through a combination of owned facilities, hosting arrangements and acquisitions, with activities spanning North America and other international markets.

The company was founded in 2010 as Marathon Patent Group and later shifted its focus toward cryptocurrency mining before adopting the Marathon Digital name.

Further Reading

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