Frederick Thiel Sells 27,505 Shares of MARA (NASDAQ:MARA) Stock

MARA Holdings (NASDAQ:MARA) CEO Frederick Thiel sold 27,505 shares of the company’s stock in a transaction on Thursday, September 17th. The stock was sold at an average price of $11.45, for a total transaction of $314,932.25. Following the completion of the transaction, the chief executive officer directly owned 4,308,192 shares in the company, valued at approximately $49,328,798.40. The trade was a 0.63% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

MARA Price Performance

NASDAQ:MARA traded up $1.60 during trading hours on Friday, hitting $13.24. 84,131,175 shares of the company’s stock traded hands, compared to its average volume of 47,167,472. The firm has a market cap of $5.11 billion, a P/E ratio of -1.45 and a beta of 5.32. MARA Holdings has a 52 week low of $6.66 and a 52 week high of $23.45. The business’s fifty day simple moving average is $11.16 and its two-hundred day simple moving average is $11.46. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 1.15.

MARA (NASDAQ:MARA) last posted its earnings results 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 for the quarter, compared to analysts’ expectations of $209.44 million. MARA had a negative return on equity of 26.05% and a negative net margin of 429.71%.MARA’s quarterly revenue was down 26.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.84 earnings per share. On average, research analysts anticipate that MARA Holdings will post -1.65 earnings per share for the current fiscal year.

Trending Headlines about MARA

Here are the key news stories impacting MARA this week:

• Positive Sentiment: Bitcoin rebound supports MARA: Bitcoin reportedly climbed about 6% toward $81,000, a favorable catalyst for MARA because miners’ revenue and asset values are closely tied to Bitcoin prices. MARA’s substantial Bitcoin holdings and high operating leverage can amplify gains in the cryptocurrency. Why Is MARA Stock Surging on Friday?
• Positive Sentiment: Morgan Stanley raised its outlook: Reports said Morgan Stanley doubled its price target for MARA, adding to bullish sentiment and helping reinforce the stock’s upward momentum. The upgrade was accompanied by broader optimism in Wall Street forecasts for the company. MARA Holdings Stock Jumps After Morgan Stanley Doubles Price Target
• Neutral Sentiment: Infrastructure expansion remains a longer-term catalyst: MARA has reported 35,577 BTC held as of June 30 and 70.3 EH/s of energized hashrate, while pursuing additional powered-land capacity in Texas. These initiatives could expand mining capacity, but execution, capital requirements and Bitcoin volatility remain important risks. Why MARA Holdings Stock Is Up Today
• Negative Sentiment: Rally increases profit-taking risk: MARA had already gained roughly 21% over the preceding month, potentially making the stock vulnerable to consolidation or profit-taking. Quiver also reported open-market insider sales by the CEO, CFO and general counsel, with no reported insider purchases in the past six months. MARA Holdings Just Rallied 21% in a Month

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. HC Wainwright assumed coverage on shares of MARA in a research note on Friday, September 11th. They issued a “buy” rating and a $20.00 target price on the stock. Piper Sandler decreased their price target on shares of MARA from $16.00 to $13.00 and set an “overweight” rating on the stock in a report on Friday, July 17th. Weiss Ratings upgraded shares of MARA from a “sell (d-)” rating to a “sell (d)” rating in a research report on Friday, August 21st. Citizens Jmp started coverage on shares of MARA in a report on Wednesday, June 24th. They set a “market outperform” rating and a $24.00 price objective for the company. Finally, Morgan Stanley reiterated an “underweight” rating and issued a $11.00 target price (up from $6.00) on shares of MARA in a research report on Friday. Eight research analysts have rated the stock with a Buy rating, one has issued a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat.com, MARA has an average rating of “Hold” and an average target price of $19.20.

Institutional Trading of MARA

A number of hedge funds have recently bought and sold shares of MARA. Quantinno Capital Management LP raised its stake in shares of MARA by 315.5% during the first quarter. Quantinno Capital Management LP now owns 166,571 shares of the business services provider’s stock worth $1,359,000 after acquiring an additional 126,482 shares in the last quarter. Handelsbanken Fonder AB bought a new position in shares of MARA during the 4th quarter valued at $831,000. Hsbc Holdings PLC bought a new position in shares of MARA during the 4th quarter valued at $5,220,000. Edgestream Partners L.P. purchased a new position in MARA in the 1st quarter worth $2,864,000. Finally, Intech Investment Management LLC raised its position in MARA by 56.2% in the 4th quarter. Intech Investment Management LLC now owns 213,066 shares of the business services provider’s stock worth $1,913,000 after purchasing an additional 76,670 shares during the period. Institutional investors own 44.53% of the company’s stock.

About MARA

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.