MARA (NASDAQ:MARA) Shares Gap Up – Here’s Why

MARA Holdings, Inc. (NASDAQ:MARA) shares gapped up before the market opened on Thursday . The stock had previously closed at $23.27, but opened at $23.80. MARA shares last traded at $23.73, with a volume of 9,856,495 shares trading hands.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on MARA. HC Wainwright reissued a “buy” rating and issued a $28.00 price objective on shares of MARA in a research report on Wednesday, December 4th. Cantor Fitzgerald began coverage on MARA in a research note on Thursday, October 10th. They set an “overweight” rating and a $21.00 price objective for the company. Barclays assumed coverage on shares of MARA in a research note on Monday, November 25th. They issued an “equal weight” rating and a $27.00 price target for the company. Compass Point downgraded shares of MARA from a “buy” rating to a “neutral” rating and increased their price objective for the company from $21.00 to $25.00 in a research note on Thursday, November 21st. Finally, Macquarie boosted their price objective on MARA from $22.00 to $29.00 and gave the company an “outperform” rating in a report on Monday, November 18th. One research analyst has rated the stock with a sell rating, six have given a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, MARA currently has a consensus rating of “Hold” and an average target price of $24.56.

MARA Stock Up 0.7 %

The company has a quick ratio of 4.00, a current ratio of 4.00 and a debt-to-equity ratio of 0.22. The firm’s 50-day moving average price is $20.75 and its 200 day moving average price is $19.27. The firm has a market cap of $7.32 billion, a P/E ratio of 28.77 and a beta of 5.63.

MARA (NASDAQ:MARA) last announced its quarterly earnings results on Tuesday, November 12th. The business services provider reported ($0.42) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.38) by ($0.04). The business had revenue of $131.60 million for the quarter, compared to analyst estimates of $140.26 million. MARA had a negative return on equity of 8.40% and a net margin of 27.48%. The company’s revenue was up 34.4% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.05) EPS. As a group, research analysts expect that MARA Holdings, Inc. will post -1.02 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Jay P. Leupp sold 6,800 shares of the stock in a transaction on Friday, November 29th. The stock was sold at an average price of $29.90, for a total transaction of $203,320.00. Following the completion of the sale, the director now owns 135,756 shares in the company, valued at approximately $4,059,104.40. This represents a 4.77 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Salman Hassan Khan sold 16,700 shares of MARA stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $15.70, for a total value of $262,190.00. Following the completion of the transaction, the chief financial officer now directly owns 2,103,347 shares in the company, valued at $33,022,547.90. This represents a 0.79 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 152,622 shares of company stock worth $2,890,197 over the last ninety days. Company insiders own 0.97% of the company’s stock.

Institutional Investors Weigh In On MARA

Several hedge funds have recently bought and sold shares of MARA. Assenagon Asset Management S.A. purchased a new stake in shares of MARA during the 2nd quarter worth about $1,890,000. Brookstone Capital Management increased its stake in MARA by 17.9% during the second quarter. Brookstone Capital Management now owns 98,166 shares of the business services provider’s stock valued at $1,949,000 after acquiring an additional 14,879 shares during the period. Nisa Investment Advisors LLC raised its stake in shares of MARA by 56.3% in the second quarter. Nisa Investment Advisors LLC now owns 57,931 shares of the business services provider’s stock valued at $1,150,000 after purchasing an additional 20,861 shares in the last quarter. Sara Bay Financial raised its stake in shares of MARA by 8.7% in the 2nd quarter. Sara Bay Financial now owns 113,904 shares of the business services provider’s stock valued at $2,261,000 after buying an additional 9,104 shares in the last quarter. Finally, Neo Ivy Capital Management bought a new position in shares of MARA during the 2nd quarter worth about $329,000. 44.53% of the stock is owned by hedge funds and other institutional investors.

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.