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

Shares of MARA Holdings, Inc. (NASDAQ:MARA) gapped down prior to trading on Wednesday . The stock had previously closed at $25.23, but opened at $24.32. MARA shares last traded at $25.08, with a volume of 19,102,211 shares traded.

Analyst Upgrades and Downgrades

Several research firms have weighed in on MARA. Cantor Fitzgerald began coverage on MARA in a research report on Thursday, October 10th. They issued an “overweight” rating and a $21.00 price objective on the stock. Macquarie began coverage on MARA in a research report on Tuesday, September 24th. They issued an “outperform” rating and a $22.00 price objective on the stock. HC Wainwright reissued a “buy” rating and issued a $28.00 price objective on shares of MARA in a research report on Wednesday. JPMorgan Chase & Co. dropped their price target on MARA from $14.00 to $12.00 and set an “underweight” rating on the stock in a research report on Friday, August 23rd. Finally, Needham & Company LLC reiterated a “hold” rating on shares of MARA in a research note on Wednesday. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, MARA currently has a consensus rating of “Hold” and an average price target of $21.57.

MARA Price Performance

The firm has a market capitalization of $6.12 billion, a P/E ratio of 26.32 and a beta of 5.52. The company has a debt-to-equity ratio of 0.13, a quick ratio of 3.75 and a current ratio of 3.75. The business has a 50 day simple moving average of $17.23 and a two-hundred day simple moving average of $18.56.

Insiders Place Their Bets

In other news, CFO Salman Hassan Khan sold 16,700 shares of the 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 transaction, the chief financial officer now directly 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Frederick G. Thiel sold 27,505 shares of the firm’s stock in a transaction dated Wednesday, October 16th. The shares were sold at an average price of $17.50, for a total value of $481,337.50. Following the transaction, the chief executive officer now directly owns 4,250,804 shares in the company, valued at approximately $74,389,070. This represents a 0.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 91,417 shares of company stock worth $1,524,546 in the last ninety days. 0.97% of the stock is currently owned by insiders.

Hedge Funds Weigh In On MARA

A number of large investors have recently modified their holdings of MARA. Dimensional Fund Advisors LP raised its holdings in shares of MARA by 261.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,236,920 shares of the business services provider’s stock valued at $64,249,000 after buying an additional 2,340,472 shares in the last quarter. Bank of New York Mellon Corp grew its position in MARA by 186.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 2,039,569 shares of the business services provider’s stock worth $40,485,000 after acquiring an additional 1,327,969 shares during the last quarter. Principal Financial Group Inc. grew its position in MARA by 4,394.8% during the 2nd quarter. Principal Financial Group Inc. now owns 1,354,766 shares of the business services provider’s stock worth $26,892,000 after acquiring an additional 1,324,625 shares during the last quarter. Public Sector Pension Investment Board bought a new position in MARA during the 2nd quarter worth approximately $11,920,000. Finally, Vanguard Group Inc. grew its position in MARA by 1.9% during the 1st quarter. Vanguard Group Inc. now owns 23,915,042 shares of the business services provider’s stock worth $540,002,000 after acquiring an additional 441,455 shares during the last quarter. 44.53% of the stock is owned by hedge funds and other institutional investors.

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.