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

MARA Holdings, Inc. (NASDAQ:MARA)’s share price 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 traded hands during trading, a decline of 47% from the average session volume of 45,198,809 shares. The stock had previously closed at $14.48.

MARA has been the topic of several other research reports. Rosenblatt Securities began coverage on MARA in a report on Friday, March 7th. They issued a “buy” rating and a $19.00 price target on the stock. Barclays reduced their price target 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. JPMorgan Chase & Co. lowered their price target on MARA from $23.00 to $18.00 and set a “neutral” rating for the company in a research note on Thursday, March 13th. Needham & Company LLC reissued a “hold” rating on shares of MARA in a research report on Thursday, February 27th. Finally, HC Wainwright reissued a “buy” rating and issued a $28.00 price target on shares of MARA in a research report on Thursday, April 24th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $22.10.

Insider Buying and Selling

In other MARA news, CEO Frederick G. Thiel sold 27,505 shares of the firm’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $16.68, for a total value of $458,783.40. Following the completion of the sale, 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 position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Salman Hassan Khan sold 16,700 shares of the business’s stock in a transaction that occurred on 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 transaction, the chief financial officer now owns 1,773,788 shares of the company’s stock, valued at $27,156,694.28. This trade represents a 0.93 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.80% of the company’s stock.

Institutional Trading of MARA

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

MARA Stock Performance

The company has a current ratio of 4.00, a quick ratio of 4.00 and a debt-to-equity ratio of 0.22. The stock has a 50 day moving average price of $13.04 and a two-hundred day moving average price of $17.36. The company 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 posted its earnings results on Wednesday, February 26th. The business services provider reported $1.24 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.32) by $1.56. The company had revenue of $214.39 million during the quarter, compared to analyst estimates of $187.11 million. MARA had a negative return on equity of 8.40% and a net margin of 27.48%. Analysts predict that MARA Holdings, Inc. will post -1.04 EPS for the current year.

MARA Company Profile

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.