MARA (NASDAQ:MARA) Shares Gap Up – Here’s Why

by · The Markets Daily

MARA Holdings, Inc. (NASDAQ:MARA – Get Free Report)’s share price gapped up prior to trading on Monday . The stock had previously closed at $19.25, but opened at $22.30. MARA shares last traded at $22.57, with a volume of 28,587,455 shares.

Analyst Ratings Changes

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

Read Our Latest Report on MARA

MARA Trading Up 0.9 %

The company has a current ratio of 3.75, a quick ratio of 3.75 and a debt-to-equity ratio of 0.13. The company has a fifty day simple moving average of $16.95 and a 200-day simple moving average of $18.52. The stock has a market cap of $7.43 billion, a price-to-earnings ratio of 16.17 and a beta of 5.52.

Insider Buying and Selling at MARA

In other MARA news, CFO Salman Hassan Khan sold 16,700 shares of MARA stock in a transaction dated Wednesday, October 16th. The stock was sold at an average price of $17.50, for a total transaction of $292,250.00. Following the transaction, the chief financial officer now owns 2,077,232 shares of the company’s stock, valued at $36,351,560. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other MARA news, CEO Frederick G. Thiel sold 27,505 shares of the company’s stock in a transaction that occurred on 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 owns 4,250,804 shares of the company’s stock, valued at $74,389,070. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Salman Hassan Khan sold 16,700 shares of the company’s stock in a transaction that occurred on Wednesday, October 16th. The stock was sold at an average price of $17.50, for a total value of $292,250.00. Following the transaction, the chief financial officer now owns 2,077,232 shares of the company’s stock, valued at approximately $36,351,560. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 90,417 shares of company stock valued at $1,500,486 in the last 90 days. 0.97% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

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

MARA Company Profile

(Get Free Report)

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.

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