MARA (NASDAQ:MARA) Stock Price Down 11.2% on Analyst Downgrade

MARA Holdings, Inc. (NASDAQ:MARA) shares traded down 11.2% during trading on Monday after Piper Sandler lowered their price target on the stock from $30.00 to $23.00. Piper Sandler currently has an overweight rating on the stock. MARA traded as low as $12.99 and last traded at $12.87. 23,859,610 shares were traded during trading, a decline of 47% from the average session volume of 45,198,809 shares. The stock had previously closed at $14.48.

Several other research firms have also recently commented on MARA. HC Wainwright restated a “buy” rating and set a $28.00 price target on shares of MARA in a research note on Thursday, April 24th. Rosenblatt Securities began coverage on shares of MARA in a research note on Friday, March 7th. They issued a “buy” rating and a $19.00 target price for the company. JPMorgan Chase & Co. dropped their price target on shares of MARA from $23.00 to $18.00 and set a “neutral” rating on the stock in a research note on Thursday, March 13th. Barclays reduced their price objective on shares of MARA from $27.00 to $14.00 and set an “equal weight” rating for the company in a research report on Monday, March 3rd. Finally, Needham & Company LLC reiterated a “hold” rating on shares of MARA in a research report on Thursday, February 27th. One analyst has rated the stock with a sell rating, six have given a hold rating and five have given a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $22.10.

Insider Transactions at MARA

In related news, CFO Salman Hassan Khan sold 16,700 shares of MARA stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $15.31, for a total transaction of $255,677.00. Following the completion of the sale, the chief financial officer now owns 1,773,788 shares in the company, valued at approximately $27,156,694.28. This trade represents a 0.93 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Frederick G. Thiel sold 27,505 shares of the company’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $16.68, for a total transaction of $458,783.40. Following the completion of the transaction, the chief executive officer now owns 3,910,843 shares in the company, valued at approximately $65,232,861.24. This trade represents a 0.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.80% of the company’s stock.

Institutional Investors Weigh In On MARA

Hedge funds and other institutional investors have recently modified their holdings of the company. Norges Bank purchased a new position in MARA during the fourth quarter worth about $46,413,000. Vanguard Group Inc. lifted its position in shares of MARA by 7.5% during the fourth quarter. Vanguard Group Inc. now owns 38,782,941 shares of the business services provider’s stock worth $650,390,000 after purchasing an additional 2,706,271 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its position in MARA by 192.4% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,897,200 shares of the business services provider’s stock valued at $31,817,000 after buying an additional 1,248,292 shares during the last quarter. American Century Companies Inc. grew its stake in MARA by 44.3% during the 4th quarter. American Century Companies Inc. now owns 4,039,871 shares of the business services provider’s stock valued at $67,749,000 after purchasing an additional 1,240,354 shares in the last quarter. Finally, Public Employees Retirement System of Ohio bought a new stake in shares of MARA in the fourth quarter worth $13,416,000. 44.53% of the stock is currently owned by hedge funds and other institutional investors.

MARA Trading Down 9.6 %

The company has a debt-to-equity ratio of 0.22, a quick ratio of 4.00 and a current ratio of 4.00. The business’s 50 day moving average price is $13.04 and its 200-day moving average price is $17.36. The firm has a market cap of $4.61 billion, a price-to-earnings ratio of 16.57 and a beta of 6.82.

MARA (NASDAQ:MARA) last announced its quarterly earnings data on Wednesday, February 26th. The business services provider reported $1.24 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.32) by $1.56. MARA had a net margin of 27.48% and a negative return on equity of 8.40%. The business had revenue of $214.39 million during the quarter, compared to the consensus estimate of $187.11 million. Equities analysts expect that MARA Holdings, Inc. will post -1.04 EPS for the current year.

About MARA

MARA Holdings, Inc operates as a digital asset technology company that mines digital assets with a focus on the bitcoin ecosystem in United States. The company was formerly known as Marathon Digital Holdings, Inc and changed its name to MARA Holdings, Inc in August 2024. MARA Holdings, Inc was incorporated in 2010 and is headquartered in Fort Lauderdale, Florida.