MARA (NASDAQ:MARA) Stock Jumps 8% – Time to Buy?

MARA Holdings (NASDAQ:MARA – Get Free Report)’s share price was up 8% during trading on Friday. The company traded as high as $12.24 and last traded at $12.1020. Approximately 7,538,319 shares changed hands during mid-day trading, a decline of 84% from the average session volume of 45,869,434 shares. The stock had previously closed at $11.21.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the company. JPMorgan Chase & Co. reiterated 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. HC Wainwright started coverage on shares of MARA in a report on Friday, September 11th. They issued a “buy” rating and a $20.00 price target for the company. Piper Sandler decreased their price objective on shares of MARA from $16.00 to $13.00 and set an “overweight” rating on the stock in a report on Friday, July 17th. Morgan Stanley reiterated an “underweight” rating and issued a $11.00 target price (up from $6.00) on shares of MARA in a research report on Friday, September 18th. Finally, Cantor Fitzgerald cut their target price on shares of 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 issued a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $19.20.

Read Our Latest Stock Report on MARA

MARA Price Performance

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 50 day moving average price of $11.25 and a 200-day moving average price of $11.71. The stock has a market capitalization of $4.38 billion, a price-to-earnings ratio of -1.24 and a beta of 5.33.

MARA (NASDAQ:MARA – Get Free Report) last posted its quarterly earnings data on Thursday, August 6th. The business services provider reported ($1.60) 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 firm had revenue of $174.88 million during the quarter, compared to analyst estimates of $209.44 million. During the same period in the prior year, the company posted $1.84 earnings per share. The firm’s revenue for the quarter was down 26.7% compared to the same quarter last year. On average, analysts forecast that MARA Holdings will post -1.65 earnings per share for the current year.

Insider Transactions at MARA

In other MARA news, CFO Salman Khan sold 16,000 shares of the stock in a transaction dated 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 owned 377,066 shares in the company, valued at approximately $3,472,777.86. This represents a 4.07% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, General Counsel Zabi Nowaid sold 8,376 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the general counsel directly owned 898,780 shares in the company, valued at $10,785,360. This trade represents a 0.92% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 79,386 shares of company stock valued at $816,125. Corporate insiders own 0.97% of the company’s stock.

Hedge Funds Weigh In On MARA

A number of institutional investors have recently added to or reduced their stakes in the stock. Geode Capital Management LLC increased its stake in shares of MARA by 2.6% in the 4th quarter. Geode Capital Management LLC now owns 9,957,766 shares of the business services provider’s stock worth $89,434,000 after acquiring an additional 251,674 shares during the last quarter. Norges Bank acquired a new position in shares of MARA during the 4th quarter valued at about $39,492,000. Capital World Investors grew its holdings in shares of MARA by 0.6% in the fourth quarter. Capital World Investors now owns 2,954,764 shares of the business services provider’s stock valued at $26,534,000 after purchasing an additional 19,048 shares during the period. Principal Financial Group Inc. grew its holdings in shares of MARA by 2.0% in the first quarter. Principal Financial Group Inc. now owns 1,838,149 shares of the business services provider’s stock valued at $14,999,000 after purchasing an additional 35,978 shares during the period. Finally, Headlands Technologies LLC increased its position in MARA by 51.2% during the second quarter. Headlands Technologies LLC now owns 444,756 shares of the business services provider’s stock worth $6,178,000 after purchasing an additional 150,665 shares during the last quarter. Hedge funds and other institutional investors own 44.53% of the company’s stock.

MARA Company Profile

(Get Free Report)

MARA Holdings, Inc (NASDAQ: MARA), formerly known as Marathon Digital Holdings, is a digital asset technology company focused primarily on mining bitcoin. The company operates specialized data centers containing application-specific integrated circuit (ASIC) computers that process transactions and secure the Bitcoin network in exchange for bitcoin rewards.

In addition to bitcoin mining, MARA develops and operates digital asset computing infrastructure. Its activities include managing energy and data-center resources, deploying mining hardware, and pursuing technologies designed to improve the efficiency and scalability of digital asset mining.

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