MARA (NASDAQ:MARA) Shares Down 4.4% – Here’s What Happened

Shares of MARA Holdings, Inc. (NASDAQ:MARA) dropped 4.4% during mid-day trading on Wednesday . The stock traded as low as $23.63 and last traded at $24.13. Approximately 40,684,949 shares changed hands during trading, a decline of 25% from the average daily volume of 53,918,383 shares. The stock had previously closed at $25.23.

Wall Street Analysts Forecast Growth

MARA has been the subject of several research reports. Cantor Fitzgerald initiated coverage on MARA in a report on Thursday, October 10th. They set an “overweight” rating and a $21.00 price objective for the company. Needham & Company LLC reissued a “hold” rating on shares of MARA in a report on Wednesday. Macquarie assumed coverage on MARA in a report on Tuesday, September 24th. They issued an “outperform” rating and a $22.00 price target for the company. HC Wainwright reissued a “buy” rating and issued a $28.00 price target on shares of MARA in a report on Wednesday. Finally, JPMorgan Chase & Co. cut their price target on MARA from $14.00 to $12.00 and set an “underweight” rating for the company in a report on Friday, August 23rd. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, MARA currently has an average rating of “Hold” and an average target price of $21.57.

MARA Stock Performance

The firm has a market cap of $6.69 billion, a PE ratio of 26.32 and a beta of 5.52. The company has a debt-to-equity ratio of 0.22, a current ratio of 4.00 and a quick ratio of 3.75. The stock has a 50-day moving average price of $17.23 and a 200 day moving average price of $18.56.

Insider Activity

In other MARA news, CEO Frederick G. Thiel sold 27,505 shares of the business’s stock in a transaction dated Wednesday, October 16th. The stock was sold at an average price of $17.50, for a total transaction of $481,337.50. Following the transaction, the chief executive officer now owns 4,250,804 shares in the company, valued at $74,389,070. The trade was a 0.64 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 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 value of $262,190.00. Following the transaction, the chief financial officer now owns 2,103,347 shares in the company, valued at approximately $33,022,547.90. This represents a 0.79 % decrease in their position. 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 quarter. Company insiders own 0.97% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the business. Beaird Harris Wealth Management LLC lifted its stake in shares of MARA by 121.1% in the first quarter. Beaird Harris Wealth Management LLC now owns 1,269 shares of the business services provider’s stock worth $29,000 after acquiring an additional 695 shares in the last quarter. Financial Advocates Investment Management raised its stake in MARA by 5.2% during the third quarter. Financial Advocates Investment Management now owns 14,201 shares of the business services provider’s stock valued at $230,000 after buying an additional 700 shares in the last quarter. Ranch Capital Advisors Inc. raised its stake in MARA by 6.1% during the second quarter. Ranch Capital Advisors Inc. now owns 13,532 shares of the business services provider’s stock valued at $269,000 after buying an additional 780 shares in the last quarter. Ameritas Investment Partners Inc. raised its stake in MARA by 4.1% during the first quarter. Ameritas Investment Partners Inc. now owns 22,359 shares of the business services provider’s stock valued at $505,000 after buying an additional 881 shares in the last quarter. Finally, Larson Financial Group LLC raised its stake in MARA by 124.2% during the third quarter. Larson Financial Group LLC now owns 1,917 shares of the business services provider’s stock valued at $31,000 after buying an additional 1,062 shares in the last quarter. Institutional investors and hedge funds own 44.53% of the company’s stock.

About MARA

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.