MARA (NASDAQ:MARA) Shares Up 10.8% – Time to Buy?

MARA Holdings (NASDAQ:MARAGet Free Report) rose 10.8% during trading on Thursday . The stock traded as high as $11.85 and last traded at $11.60. 68,778,363 shares changed hands during mid-day trading, an increase of 49% from the average session volume of 46,240,227 shares. The stock had previously closed at $10.47.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on MARA. Citizens Jmp assumed coverage on MARA in a research report on Wednesday, June 24th. They issued a “market outperform” rating and a $24.00 price objective for the company. Cantor Fitzgerald dropped their target price on shares of MARA from $14.00 to $12.00 and set an “overweight” rating on the stock in a research report on Friday, August 7th. Morgan Stanley boosted their target price on shares of MARA from $5.50 to $6.00 and gave the stock an “underweight” rating in a research report on Thursday, August 13th. Piper Sandler reduced their price target on shares of MARA from $16.00 to $13.00 and set an “overweight” rating for the company in a report on Friday, July 17th. Finally, Weiss Ratings upgraded shares of MARA from a “sell (d-)” rating to a “sell (d)” rating in a research report on Friday, August 21st. Eight analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $18.78.

Check Out Our Latest Report on MARA

MARA Stock Up 10.8%

The firm has a 50 day moving average of $11.51 and a 200-day moving average of $11.18. The company has a debt-to-equity ratio of 1.15, a current ratio of 0.89 and a quick ratio of 0.89. The stock has a market capitalization of $4.48 billion, a P/E ratio of -1.27 and a beta of 5.32.

MARA (NASDAQ:MARAGet Free Report) last announced its quarterly earnings data on Thursday, August 6th. The business services provider reported ($1.60) EPS for the quarter, missing analysts’ consensus estimates of $0.17 by ($1.77). The firm had revenue of $174.88 million during the quarter, compared to the consensus estimate of $209.44 million. MARA had a negative return on equity of 26.05% and a negative net margin of 429.71%.MARA’s revenue was down 26.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.84 EPS. On average, equities research analysts expect that MARA Holdings will post -1.24 earnings per share for the current fiscal year.

Insider Transactions at MARA

In related news, CEO Frederick Thiel sold 27,505 shares of the firm’s stock in a transaction on Wednesday, June 17th. The stock was sold at an average price of $14.25, for a total value of $391,946.25. Following the completion of the transaction, the chief executive officer directly owned 4,562,009 shares of the company’s stock, valued at $65,008,628.25. This trade represents a 0.60% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, General Counsel Zabi Nowaid sold 8,376 shares of MARA stock in a transaction on Friday, August 21st. The stock was sold at an average price of $12.00, for a total transaction of $100,512.00. Following 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 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. Insiders sold 109,386 shares of company stock valued at $1,332,889 in the last ninety days. 0.97% of the stock is owned by company insiders.

Institutional Trading of MARA

Institutional investors have recently made changes to their positions in the business. Corient Private Wealth LP lifted its holdings in shares of MARA by 17.5% during the second quarter. Corient Private Wealth LP now owns 108,198 shares of the business services provider’s stock valued at $1,503,000 after acquiring an additional 16,087 shares during the period. Amundi grew its holdings in shares of MARA by 6.1% in the 2nd quarter. Amundi now owns 56,679 shares of the business services provider’s stock worth $787,000 after purchasing an additional 3,254 shares during the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in shares of MARA during the 2nd quarter worth about $333,000. California State Teachers Retirement System increased its position in shares of MARA by 1,266.3% during the 2nd quarter. California State Teachers Retirement System now owns 5,629,700 shares of the business services provider’s stock worth $78,197,000 after purchasing an additional 5,217,648 shares in the last quarter. Finally, HB Wealth Management LLC acquired a new stake in shares of MARA during the 2nd quarter worth about $185,000. 44.53% of the stock is currently owned by institutional investors and hedge funds.

MARA Company Profile

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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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