MARA (NASDAQ:MARA) Trading Down 1.8% – Time to Sell?

Shares of MARA Holdings (NASDAQ:MARA) traded down 1.8% during trading on Wednesday . The company traded as low as $10.77 and last traded at $11.04. 46,006,007 shares changed hands during mid-day trading, a decline of 0% from the average session volume of 46,195,375 shares. The stock had previously closed at $11.24.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. Piper Sandler reduced their price objective on shares of MARA from $16.00 to $13.00 and set an “overweight” rating on the stock in a research report on Friday, July 17th. Morgan Stanley lifted their target price on shares of MARA from $5.50 to $6.00 and gave the company an “underweight” rating in a research note on Thursday, August 13th. HC Wainwright assumed coverage on shares of MARA in a research report on Friday, September 11th. They set a “buy” rating and a $20.00 price target on the stock. Cantor Fitzgerald decreased their price target 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. Finally, JPMorgan Chase & Co. restated an “underweight” rating and issued a $11.00 price objective (down from $13.00) on shares of MARA in a report on Monday. Eight analysts have rated the stock with a Buy rating, one has given a Hold rating and three have given a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $18.70.

MARA Stock Up 5.4%

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 stock’s 50-day moving average price is $11.15 and its two-hundred day moving average price is $11.45. The stock has a market capitalization of $4.50 billion, a PE ratio of -1.27 and a beta of 5.32.

MARA (NASDAQ:MARA) last issued its quarterly earnings results on Thursday, August 6th. The business services provider reported ($1.60) earnings per share (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 business had revenue of $174.88 million for the quarter, compared to analysts’ expectations of $209.44 million. During the same period last year, the business earned $1.84 earnings per share. The company’s revenue was down 26.7% on a year-over-year basis. As a group, analysts expect that MARA Holdings will post -1.65 EPS for the current fiscal year.

Insider Buying and Selling at MARA

In related news, General Counsel Zabi Nowaid sold 8,376 shares of the company’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 value 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. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Frederick G. Thiel sold 27,505 shares of the firm’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 $253,321.05. Following the transaction, the chief executive officer directly owned 4,335,697 shares of the company’s stock, valued at approximately $39,931,769.37. This trade 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 a total of 58,881 shares of company stock worth $613,193 over the last three months. Company insiders own 0.97% of the company’s stock.

Institutional Investors Weigh In On MARA

Several hedge funds have recently added to or reduced their stakes in MARA. Sequoia Financial Advisors LLC purchased a new stake in shares of MARA in the second quarter worth $161,000. WINTON GROUP Ltd purchased a new position in shares of MARA in the 2nd quarter worth about $3,545,000. Engineers Gate Manager LP purchased a new position in shares of MARA in the 2nd quarter worth about $1,177,000. NewEdge Advisors LLC boosted its stake in MARA by 14.9% in the 2nd quarter. NewEdge Advisors LLC now owns 12,320 shares of the business services provider’s stock worth $171,000 after purchasing an additional 1,598 shares in the last quarter. Finally, IFP Advisors Inc grew its position in 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. 44.53% of the stock is owned by institutional investors.

MARA Company Profile

MARA Holdings, Inc, formerly known as Marathon Digital Holdings, Inc, is a digital asset technology company focused primarily on mining bitcoin. The company operates and supports computing infrastructure designed to secure the Bitcoin network by processing transactions and earning bitcoin rewards.

MARA develops and deploys large-scale data center and energy infrastructure for digital asset mining. Its activities include operating mining facilities, managing specialized application-specific integrated circuit (ASIC) mining equipment, and pursuing energy and infrastructure solutions intended to support more efficient and scalable computing operations.