MARA (NASDAQ:MARA) Trading Down 2.5% – What’s Next?

MARA Holdings (NASDAQ:MARA) traded down 2.5% during mid-day trading on Friday . The stock traded as low as $11.19 and last traded at $11.31. 37,007,222 shares were traded during trading, a decline of 20% from the average daily volume of 46,187,984 shares. The stock had previously closed at $11.60.

MARA News Roundup

Here are the key news stories impacting MARA this week:

• Neutral Sentiment: Multiple reports covered Kate Mara and Rooney Mara’s red-carpet appearance and premiere of Bucking Fastard, their first film together. The entertainment coverage has no apparent connection to MARA Holdings’ operations, financial results, or outlook. Mara sisters, Orlando Bloom attend Bucking Fastard gala in Venice
• Neutral Sentiment: Additional festival reports discussed the sisters’ performances, styling, and interviews surrounding the Venice contender. These stories are unrelated to the Nasdaq-listed bitcoin miner despite the shared “Mara” name. Mara sisters premiere Ireland-filmed drama at Venice
• Neutral Sentiment: A report that “Mara” raised $7 million from Khosla Ventures refers to funding for an autonomous counter-drone system, not MARA Holdings. It therefore should not be interpreted as new capital for, or a catalyst for, MARA stock. Mara Raises $7 Million Led By Khosla Ventures To Scale Autonomous Counter-Drone System

Analyst Ratings Changes

Several equities analysts have recently weighed in on MARA shares. Citizens Jmp initiated coverage on MARA in a report on Wednesday, June 24th. They set a “market outperform” rating and a $24.00 price target for the company. Morgan Stanley raised their target price on MARA from $5.50 to $6.00 and gave the stock an “underweight” rating in a research report on Thursday, August 13th. Weiss Ratings raised MARA from a “sell (d-)” rating to a “sell (d)” rating in a report on Friday, August 21st. Cantor Fitzgerald dropped 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. Finally, Rosenblatt Securities reissued a “buy” rating and set a $15.00 target price on shares of MARA in a research note on Friday, August 7th. Eight research analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $18.78.

MARA Trading Down 2.5%

The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 1.15. The firm has a market cap of $4.37 billion, a PE ratio of -1.23 and a beta of 5.32. The company’s 50 day moving average price is $11.40 and its two-hundred day moving average price is $11.21.

MARA (NASDAQ:MARA) last announced its quarterly earnings data on Thursday, August 6th. The business services provider reported ($1.60) EPS for the quarter, missing the consensus estimate of $0.17 by ($1.77). The business had revenue of $174.88 million during the quarter, compared to the consensus estimate of $209.44 million. MARA had a negative net margin of 429.71% and a negative return on equity of 26.05%. The business’s revenue was down 26.7% compared to the same quarter last year. During the same period last year, the company earned $1.84 EPS. As a group, sell-side analysts forecast that MARA Holdings will post -1.24 EPS for the current year.

Insider Buying and Selling at MARA

In related news, CFO Salman Khan sold 16,000 shares of the business’s stock in a transaction on Monday, August 17th. The stock was sold at an average price of $9.21, for a total transaction of $147,360.00. Following the transaction, the chief financial officer directly owned 377,066 shares in the company, valued at $3,472,777.86. The trade was a 4.07% decrease in their position. The sale 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, CEO Frederick G. Thiel sold 27,505 shares of MARA stock in a transaction dated Wednesday, June 17th. The stock was sold at an average price of $14.25, for a total value of $391,946.25. Following the sale, the chief executive officer directly owned 4,562,009 shares of the company’s stock, valued at approximately $65,008,628.25. This represents a 0.60% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 109,386 shares of company stock worth $1,332,889. 0.97% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On MARA

Several hedge funds have recently added to or reduced their stakes in MARA. Ascentis Independent Advisors acquired a new position in shares of MARA in the 1st quarter valued at about $28,000. Bogart Wealth LLC raised its position in MARA by 4,345.1% during the first quarter. Bogart Wealth LLC now owns 4,045 shares of the business services provider’s stock valued at $33,000 after acquiring an additional 3,954 shares in the last quarter. Eurizon Capital SGR S.p.A. acquired a new position in MARA in the fourth quarter valued at approximately $36,000. Hantz Financial Services Inc. lifted its holdings in MARA by 344.8% in the fourth quarter. Hantz Financial Services Inc. now owns 5,022 shares of the business services provider’s stock valued at $45,000 after acquiring an additional 3,893 shares during the period. Finally, CoreCap Advisors LLC boosted its position in MARA by 128.0% in the 2nd quarter. CoreCap Advisors LLC now owns 3,651 shares of the business services provider’s stock worth $51,000 after purchasing an additional 2,050 shares in the last quarter. 44.53% of the stock is owned by hedge funds and other institutional investors.

MARA Company Profile

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.