MARA Holdings (NASDAQ:MARA – Get Free Report)’s stock price was up 5.8% during mid-day trading on Tuesday . The company traded as high as $12.15 and last traded at $11.83. 48,272,800 shares traded hands during trading, an increase of 4% from the average session volume of 46,406,332 shares. The stock had previously closed at $11.18.
Analyst Upgrades and Downgrades
A number of equities research analysts have recently commented on MARA shares. Rosenblatt Securities reissued a “buy” rating and issued a $15.00 target price on shares of MARA in a research note on Friday, August 7th. BTIG Research reiterated a “buy” rating and issued a $27.00 price target on shares of MARA in a research note on Monday, June 1st. Piper Sandler reduced their price objective on shares of MARA from $16.00 to $13.00 and set an “overweight” rating for the company in a research note on Friday, July 17th. Morgan Stanley lifted their target price on shares of MARA from $5.50 to $6.00 and gave the stock an “underweight” rating in a report on Thursday, August 13th. Finally, Citizens Jmp assumed coverage on shares of MARA in a research note on Wednesday, June 24th. They issued a “market outperform” rating and a $24.00 target price on the stock. Eight analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, MARA currently has an average rating of “Moderate Buy” and a consensus target price of $18.78.
View Our Latest Research Report on MARA
MARA Stock Up 8.2%
MARA (NASDAQ:MARA – Get Free Report) last announced 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). MARA had a negative net margin of 429.71% and a negative return on equity of 26.05%. The business had revenue of $174.88 million for the quarter, compared to the consensus estimate of $209.44 million. During the same quarter last year, the firm posted $1.84 earnings per share. The business’s quarterly revenue was down 26.7% compared to the same quarter last year. As a group, analysts forecast that MARA Holdings will post -1.24 EPS for the current fiscal year.
Insider Buying and Selling
In other MARA news, General Counsel Zabi Nowaid sold 8,376 shares of the company’s stock in a transaction dated Friday, August 21st. The stock was 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 owned 898,780 shares in the company, valued at $10,785,360. This represents a 0.92% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Salman Hassan Khan sold 16,000 shares of the firm’s stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $9.21, for a total value of $147,360.00. Following the completion of the transaction, the chief financial officer directly owned 377,066 shares in the company, valued at $3,472,777.86. This trade represents a 4.07% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 109,386 shares of company stock valued at $1,332,889. Company insiders own 0.97% of the company’s stock.
Hedge Funds Weigh In On MARA
A number of hedge funds have recently modified their holdings of MARA. Quantinno Capital Management LP boosted its stake in MARA by 315.5% during the first quarter. Quantinno Capital Management LP now owns 166,571 shares of the business services provider’s stock valued at $1,359,000 after buying an additional 126,482 shares during the last quarter. New York State Teachers Retirement System increased its stake in MARA by 28.9% in the 4th quarter. New York State Teachers Retirement System now owns 427,726 shares of the business services provider’s stock worth $3,841,000 after acquiring an additional 95,970 shares during the last quarter. Vanguard Group Inc. increased its stake in MARA by 3.1% in the 4th quarter. Vanguard Group Inc. now owns 46,706,277 shares of the business services provider’s stock worth $419,422,000 after acquiring an additional 1,394,559 shares during the last quarter. Handelsbanken Fonder AB purchased a new stake in shares of MARA during the 4th quarter worth approximately $831,000. Finally, Intech Investment Management LLC raised its holdings in shares of MARA by 56.2% during the 4th quarter. Intech Investment Management LLC now owns 213,066 shares of the business services provider’s stock worth $1,913,000 after acquiring an additional 76,670 shares in the last quarter. 44.53% of the stock is currently owned by institutional investors.
MARA Company Profile
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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