MARA’s (MARA) Buy Rating Reaffirmed at HC Wainwright

HC Wainwright reissued their buy rating on shares of MARA (NASDAQ:MARA) in a research report report published on Wednesday,Benzinga reports. They currently have a $28.00 price objective on the business services provider’s stock. HC Wainwright also issued estimates for MARA’s Q4 2024 earnings at ($0.54) EPS and FY2025 earnings at ($1.55) EPS.

Several other research firms have also issued reports on MARA. Macquarie initiated coverage on shares of MARA in a report on Tuesday, September 24th. They issued an “outperform” rating and a $22.00 target price on the stock. JPMorgan Chase & Co. decreased their price target on shares of MARA from $14.00 to $12.00 and set an “underweight” rating for the company in a research note on Friday, August 23rd. Finally, Cantor Fitzgerald initiated coverage on shares of MARA in a research note on Thursday, October 10th. They issued an “overweight” rating and a $21.00 price target for the company. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, MARA currently has a consensus rating of “Hold” and an average price target of $21.57.

MARA Price Performance

MARA stock opened at $21.07 on Wednesday. The firm has a market cap of $6.78 billion, a price-to-earnings ratio of 26.67 and a beta of 5.52. The company has a quick ratio of 3.75, a current ratio of 4.00 and a debt-to-equity ratio of 0.22. MARA has a 12-month low of $9.21 and a 12-month high of $34.09. The company’s fifty day simple moving average is $17.38 and its 200 day simple moving average is $18.60.

MARA (NASDAQ:MARA) last released its earnings results on Tuesday, November 12th. The business services provider reported ($0.42) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.38) by ($0.04). The firm had revenue of $131.60 million during the quarter, compared to analyst estimates of $140.26 million. MARA had a net margin of 27.48% and a negative return on equity of 8.40%. MARA’s quarterly revenue was up 34.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.05) EPS. On average, analysts expect that MARA will post -1.05 earnings per share for the current year.

Insider Transactions at MARA

In other news, CEO Frederick G. Thiel sold 27,505 shares of the business’s stock in a transaction dated Wednesday, October 16th. The shares were sold at an average price of $17.50, for a total transaction of $481,337.50. Following the completion of the sale, the chief executive officer now directly owns 4,250,804 shares of the company’s stock, valued at $74,389,070. The trade was a 0.64 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Salman Hassan Khan sold 16,700 shares of the business’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $15.70, for a total transaction of $262,190.00. Following the sale, the chief financial officer now directly owns 2,103,347 shares of the company’s stock, valued at approximately $33,022,547.90. The trade was a 0.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 91,417 shares of company stock valued at $1,524,546 over the last three months. Corporate insiders own 0.97% of the company’s stock.

Institutional Investors Weigh In On MARA

Hedge funds and other institutional investors have recently made changes to their positions in the business. Beaird Harris Wealth Management LLC grew its position in MARA by 121.1% in the 1st quarter. Beaird Harris Wealth Management LLC now owns 1,269 shares of the business services provider’s stock worth $29,000 after purchasing an additional 695 shares in the last quarter. Financial Advocates Investment Management grew its position in MARA by 5.2% in the 3rd quarter. Financial Advocates Investment Management now owns 14,201 shares of the business services provider’s stock worth $230,000 after purchasing an additional 700 shares in the last quarter. Ranch Capital Advisors Inc. grew its position in MARA by 6.1% in the 2nd quarter. Ranch Capital Advisors Inc. now owns 13,532 shares of the business services provider’s stock worth $269,000 after purchasing an additional 780 shares in the last quarter. Ameritas Investment Partners Inc. grew its position in MARA by 4.1% in the 1st quarter. Ameritas Investment Partners Inc. now owns 22,359 shares of the business services provider’s stock worth $505,000 after purchasing an additional 881 shares in the last quarter. Finally, Larson Financial Group LLC grew its position in MARA by 124.2% in the 3rd quarter. Larson Financial Group LLC now owns 1,917 shares of the business services provider’s stock worth $31,000 after purchasing an additional 1,062 shares in the last quarter. 44.53% of the stock is owned by 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.