HC Wainwright Reiterates “Buy” Rating for MARA (NASDAQ:MARA)

HC Wainwright reaffirmed their buy rating on shares of MARA (NASDAQ:MARA) in a research note released on Thursday morning,Benzinga reports. The brokerage currently has a $28.00 price target on the business services provider’s stock.

A number of other equities research analysts also recently weighed in on the stock. Needham & Company LLC reissued a “hold” rating on shares of MARA in a report on Thursday. JPMorgan Chase & Co. raised shares of MARA from an “underweight” rating to a “neutral” rating and increased their target price for the company from $12.00 to $23.00 in a research note on Tuesday, December 10th. Macquarie lifted their price target on shares of MARA from $22.00 to $29.00 and gave the stock an “outperform” rating in a research report on Monday, November 18th. Piper Sandler initiated coverage on MARA in a research report on Tuesday, December 17th. They set an “overweight” rating and a $34.00 price objective for the company. Finally, Barclays initiated coverage on MARA in a report on Monday, November 25th. They issued an “equal weight” rating and a $27.00 target price on the stock. One analyst has rated the stock with a sell rating, six have issued a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $25.67.

MARA Price Performance

Shares of NASDAQ MARA opened at $13.13 on Thursday. The stock has a market cap of $4.46 billion, a P/E ratio of 16.62 and a beta of 5.76. The firm’s 50-day simple moving average is $17.78 and its 200 day simple moving average is $18.46. MARA has a fifty-two week low of $12.05 and a fifty-two week high of $34.09. The company has a quick ratio of 4.00, a current ratio of 4.00 and a debt-to-equity ratio of 0.22.

MARA (NASDAQ:MARA) last released its earnings results on Wednesday, February 26th. The business services provider reported $1.24 EPS for the quarter, beating the consensus estimate of ($0.32) by $1.56. MARA had a net margin of 27.48% and a negative return on equity of 8.40%. The firm had revenue of $214.39 million for the quarter, compared to analysts’ expectations of $187.11 million. Equities analysts expect that MARA will post -1.04 EPS for the current year.

Insider Activity

In other news, CEO Frederick G. Thiel sold 27,505 shares of the stock in a transaction on Thursday, January 16th. The shares were sold at an average price of $18.01, for a total transaction of $495,365.05. Following the transaction, the chief executive officer now owns 4,100,585 shares in the company, valued at $73,851,535.85. This represents a 0.67 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Salman Hassan Khan sold 16,700 shares of the company’s stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $23.50, for a total value of $392,450.00. Following the sale, the chief financial officer now directly owns 1,836,129 shares of the company’s stock, valued at $43,149,031.50. The trade was a 0.90 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 101,215 shares of company stock worth $2,033,766. 0.80% of the stock is owned by corporate insiders.

Institutional Trading of MARA

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Beacon Capital Management LLC bought a new stake in shares of MARA in the 4th quarter worth approximately $26,000. Truvestments Capital LLC bought a new position in MARA in the third quarter worth $26,000. Sterling Capital Management LLC boosted its stake in MARA by 358.3% during the fourth quarter. Sterling Capital Management LLC now owns 1,824 shares of the business services provider’s stock worth $31,000 after buying an additional 1,426 shares in the last quarter. Larson Financial Group LLC increased its holdings 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 valued at $31,000 after buying an additional 1,062 shares during the period. Finally, Stonehage Fleming Financial Services Holdings Ltd raised its stake in shares of MARA by 79.3% in the 4th quarter. Stonehage Fleming Financial Services Holdings Ltd now owns 1,945 shares of the business services provider’s stock valued at $33,000 after buying an additional 860 shares in the last quarter. 44.53% of the stock is currently owned by institutional investors and hedge funds.

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.