MARA (NASDAQ:MARA) Given Buy Rating at HC Wainwright

MARA (NASDAQ:MARA)‘s stock had its “buy” rating restated by HC Wainwright in a research report issued to clients and investors on Wednesday,Benzinga reports. They currently have a $28.00 price objective on the business services provider’s stock. HC Wainwright’s price target would suggest a potential upside of 34.68% from the company’s previous close.

Other analysts also recently issued reports about the stock. Cantor Fitzgerald began coverage on shares of MARA in a research report on Thursday, October 10th. They set an “overweight” rating and a $21.00 price objective on the stock. Macquarie assumed coverage on shares of MARA in a report on Tuesday, September 24th. They set an “outperform” rating and a $22.00 price target on the stock. Finally, JPMorgan Chase & Co. decreased their price objective on shares of MARA from $14.00 to $12.00 and set an “underweight” rating for the company in a report on Friday, August 23rd. Two equities research 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. Based on data from MarketBeat.com, MARA currently has an average rating of “Hold” and an average price target of $21.57.

MARA Trading Down 4.2 %

Shares of NASDAQ MARA opened at $20.79 on Wednesday. MARA has a 1 year low of $9.16 and a 1 year high of $34.09. The company has a debt-to-equity ratio of 0.13, a current ratio of 3.75 and a quick ratio of 3.75. The firm has a 50-day moving average of $17.23 and a 200 day moving average of $18.56. The stock has a market cap of $6.12 billion, a P/E ratio of 26.32 and a beta of 5.52.

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 completion of the sale, the chief executive officer now directly owns 4,250,804 shares in the company, valued at $74,389,070. The trade was a 0.64 % decrease in their position. The transaction 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 firm’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $15.70, for a total transaction 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 approximately $33,022,547.90. The trade was a 0.79 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 91,417 shares of company stock valued at $1,524,546 over the last three months. Insiders own 0.97% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP grew its position 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 acquiring an additional 2,340,472 shares during the period. Bank of New York Mellon Corp grew its holdings in MARA by 186.6% during the second quarter. Bank of New York Mellon Corp now owns 2,039,569 shares of the business services provider’s stock valued at $40,485,000 after purchasing an additional 1,327,969 shares during the period. Principal Financial Group Inc. increased its position in MARA by 4,394.8% in the second quarter. Principal Financial Group Inc. now owns 1,354,766 shares of the business services provider’s stock worth $26,892,000 after buying an additional 1,324,625 shares in the last quarter. Public Sector Pension Investment Board bought a new position in shares of MARA in the second quarter worth about $11,920,000. Finally, Vanguard Group Inc. lifted its position in shares of MARA by 1.9% during the 1st quarter. Vanguard Group Inc. now owns 23,915,042 shares of the business services provider’s stock valued at $540,002,000 after buying an additional 441,455 shares in the last quarter. 44.53% of the stock is currently owned by 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.