MARA (NASDAQ:MARA) Trading Down 5.2% – Should You Sell?

MARA Holdings (NASDAQ:MARA)’s stock price fell 5.2% during trading on Wednesday . The company traded as low as $10.99 and last traded at $11.22. Approximately 41,634,869 shares traded hands during trading, a decline of 10% from the average daily volume of 46,378,500 shares. The stock had previously closed at $11.83.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the company. Piper Sandler decreased their price objective on MARA from $16.00 to $13.00 and set an “overweight” rating on the stock in a research report on Friday, July 17th. Rosenblatt Securities reiterated a “buy” rating and issued a $15.00 price objective on shares of MARA in a research report on Friday, August 7th. BTIG Research reissued a “buy” rating and set a $27.00 price objective on shares of MARA in a report on Monday, June 1st. Morgan Stanley upped their target price on shares of MARA from $5.50 to $6.00 and gave the company an “underweight” rating in a research report on Thursday, August 13th. Finally, Cantor Fitzgerald reduced their target price on shares of MARA from $14.00 to $12.00 and set an “overweight” rating on the stock in a research note on Friday, August 7th. Eight investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $18.78.

MARA Price Performance

The company has a debt-to-equity ratio of 1.15, a quick ratio of 0.89 and a current ratio of 0.89. The company has a 50-day moving average price of $11.82 and a 200-day moving average price of $11.10. The firm has a market capitalization of $4.59 billion, a P/E ratio of -1.30 and a beta of 5.40.

MARA (NASDAQ:MARA) last released 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). MARA had a negative net margin of 429.71% and a negative return on equity of 26.05%. The company had revenue of $174.88 million during the quarter, compared to the consensus estimate of $209.44 million. During the same quarter in the prior year, the company posted $1.84 EPS. The company’s revenue for the quarter was down 26.7% compared to the same quarter last year. On average, sell-side analysts predict that MARA Holdings will post -1.24 earnings per share for the current year.

Insider Activity

In related news, CEO Frederick G. Thiel sold 27,505 shares of the business’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. The trade was a 0.63% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Douglas K. Mellinger sold 7,000 shares of the company’s stock in a transaction that occurred on Monday, June 22nd. The shares were sold at an average price of $16.00, for a total transaction of $112,000.00. Following the completion of the sale, the director directly owned 231,618 shares of the company’s stock, valued at $3,705,888. The trade was a 2.93% 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 90 days, insiders have sold 109,386 shares of company stock valued at $1,332,889. Insiders own 0.97% of the company’s stock.

Hedge Funds Weigh In On MARA

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