MARA (NASDAQ:MARA) Shares Up 10.8% – What’s Next?

MARA Holdings (NASDAQ:MARA)’s stock price shot up 10.8% during trading on Thursday . The company traded as high as $11.85 and last traded at $11.60. Approximately 68,778,363 shares were traded during trading, an increase of 49% from the average daily volume of 46,240,227 shares. The stock had previously closed at $10.47.

More MARA News

Here are the key news stories impacting MARA this week:

• Neutral Sentiment: Multiple reports covered Kate Mara and Rooney Mara’s red-carpet appearance and premiere of Bucking Fastard, their first film together. The entertainment coverage has no apparent connection to MARA Holdings’ operations, financial results, or outlook. Mara sisters, Orlando Bloom attend Bucking Fastard gala in Venice
• Neutral Sentiment: Additional festival reports discussed the sisters’ performances, styling, and interviews surrounding the Venice contender. These stories are unrelated to the Nasdaq-listed bitcoin miner despite the shared “Mara” name. Mara sisters premiere Ireland-filmed drama at Venice
• Neutral Sentiment: A report that “Mara” raised $7 million from Khosla Ventures refers to funding for an autonomous counter-drone system, not MARA Holdings. It therefore should not be interpreted as new capital for, or a catalyst for, MARA stock. Mara Raises $7 Million Led By Khosla Ventures To Scale Autonomous Counter-Drone System

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the company. BTIG Research reaffirmed a “buy” rating and set a $27.00 target price on shares of MARA in a research report on Monday, June 1st. Morgan Stanley boosted their price objective on MARA from $5.50 to $6.00 and gave the stock an “underweight” rating in a report on Thursday, August 13th. 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. Weiss Ratings raised shares of MARA from a “sell (d-)” rating to a “sell (d)” rating in a research report on Friday, August 21st. 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 equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $18.78.

MARA Stock Down 2.5%

The firm has a market cap of $4.37 billion, a PE ratio of -1.23 and a beta of 5.32. 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 business has a fifty day moving average price of $11.40 and a two-hundred day moving average price of $11.21.

MARA (NASDAQ:MARA) last announced its quarterly earnings data 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 return on equity of 26.05% and a negative net margin of 429.71%.The business had revenue of $174.88 million during the quarter, compared to analysts’ expectations of $209.44 million. During the same period in the prior year, the company posted $1.84 earnings per share. The firm’s revenue was down 26.7% on a year-over-year basis. On average, analysts anticipate that MARA Holdings will post -1.24 EPS for the current fiscal year.

Insider Activity at MARA

In other MARA news, 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 transaction, 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 filing with the Securities & Exchange Commission, which is available 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 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 transaction of $253,321.05. Following the completion of the transaction, the chief executive officer owned 4,335,697 shares in the company, valued at approximately $39,931,769.37. This represents 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. Insiders sold 109,386 shares of company stock valued at $1,332,889 over the last ninety days. 0.97% of the stock is owned by company insiders.

Hedge Funds Weigh In On MARA

Several institutional investors and hedge funds have recently modified their holdings of MARA. State Street Corp raised its holdings in shares of MARA by 1.4% during the second quarter. State Street Corp now owns 13,455,176 shares of the business services provider’s stock worth $210,977,000 after acquiring an additional 191,380 shares in the last quarter. UBS Group AG grew its stake 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 valued at $220,922,000 after purchasing an additional 6,172,110 shares in the last quarter. Marex Group plc increased its position in MARA by 2.6% in the 4th quarter. Marex Group plc now owns 10,137,713 shares of the business services provider’s stock worth $91,037,000 after purchasing an additional 259,210 shares during the last quarter. Geode Capital Management LLC increased its position in 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 purchasing an additional 251,674 shares during the last quarter. Finally, California State Teachers Retirement System raised its stake 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. 44.53% of the stock is currently owned by hedge funds and other institutional investors.

About MARA

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.