MARA (NASDAQ:MARA) Shares Down 5% – Here’s Why

MARA Holdings (NASDAQ:MARA)’s share price fell 5% during mid-day trading on Monday. The stock traded as low as $6.37 and last traded at $6.43. Approximately 30,224,643 shares traded hands during mid-day trading, a decline of 33% from the average session volume of 45,042,020 shares. The stock had previously closed at $6.77.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on MARA. Morgan Stanley set a $10.00 target price on shares of MARA and gave the stock an “underweight” rating in a research note on Friday, October 9th. Cantor Fitzgerald reduced their price target on shares of MARA from $14.00 to $12.00 and set an “overweight” rating for the company in a research report on Friday, August 7th. JPMorgan Chase & Co. downgraded shares of MARA from an “overweight” rating to an “underweight” rating and reduced their price target for the company from $13.00 to $11.00 in a research report on Monday, September 14th. Rosenblatt Securities restated a “buy” rating and issued a $15.00 price objective on shares of MARA in a report on Friday, August 7th. Finally, Weiss Ratings cut MARA from a “sell (d)” rating to a “sell (d-)” rating in a research report on Friday, October 23rd. Seven investment analysts have rated the stock with a Buy rating and three have given a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $17.78.

MARA Price Performance

The stock has a market capitalization of $2.48 billion, a PE ratio of -0.70 and a beta of 5.33. The firm’s fifty day moving average price is $10.37 and its two-hundred day moving average price is $10.79. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 1.15.

MARA (NASDAQ:MARA) last issued 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 return on equity of 26.05% and a negative net margin of 429.71%. The company had revenue of $174.88 million during the quarter, compared to analysts’ expectations of $209.44 million. During the same quarter in the prior year, the business posted $1.84 EPS. The company’s revenue for the quarter was down 26.7% compared to the same quarter last year. On average, equities analysts predict that MARA Holdings will post -1.65 earnings per share for the current year.

Insider Activity

In other news, General Counsel Zabi Nowaid sold 8,376 shares of the 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 transaction, the general counsel directly owned 898,780 shares of the company’s stock, valued at $10,785,360. This represents a 0.92% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Salman Khan sold 16,000 shares of the firm’s stock in a transaction on 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 owned 377,066 shares in the company, valued at approximately $3,472,777.86. This trade represents a 4.07% decrease in their ownership of the stock. 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 have sold 106,891 shares of company stock valued at $1,124,731 in the last ninety days. 0.97% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Ascentis Independent Advisors bought a new stake in shares of MARA during the 1st quarter valued at about $28,000. Bogart Wealth LLC increased its position in shares of MARA by 4,345.1% during 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 during the last quarter. IFP Advisors Inc increased its position 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 valued at $34,000 after purchasing an additional 2,229 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. bought a new position in shares of MARA in the 3rd quarter worth approximately $37,000. Finally, MassMutual Private Wealth & Trust FSB lifted its stake in shares of MARA by 58.2% in 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 period. Institutional investors own 44.53% of the company’s stock.

About MARA

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.