MARA (NASDAQ:MARA) Posts Earnings Results, Misses Expectations By $0.04 EPS

MARA (NASDAQ:MARA) released its quarterly earnings results on Tuesday. The business services provider reported ($0.42) earnings per share for the quarter, missing the consensus estimate of ($0.38) by ($0.04), Briefing.com reports. The firm had revenue of $131.60 million for the quarter, compared to the consensus estimate of $140.26 million. MARA had a negative return on equity of 8.40% and a net margin of 27.48%. The business’s revenue for the quarter was up 34.4% on a year-over-year basis. During the same quarter last year, the firm posted ($0.05) earnings per share.

MARA Trading Down 2.1 %

Shares of NASDAQ:MARA traded down $0.44 during mid-day trading on Friday, hitting $20.35. The company had a trading volume of 23,704,162 shares, compared to its average volume of 53,995,164. The company has a debt-to-equity ratio of 0.22, a current ratio of 4.00 and a quick ratio of 3.75. MARA has a one year low of $9.21 and a one year high of $34.09. The firm has a fifty day moving average price of $17.23 and a 200 day moving average price of $18.56. The company has a market capitalization of $6.55 billion, a PE ratio of 25.48 and a beta of 5.52.

Insider Buying and Selling at MARA

In related news, CEO Frederick G. Thiel sold 27,505 shares of the stock in a transaction on Wednesday, October 16th. The stock was sold at an average price of $17.50, for a total value of $481,337.50. Following the completion of the sale, the chief executive officer now directly owns 4,250,804 shares of the company’s stock, valued at approximately $74,389,070. This represents a 0.64 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Salman Hassan Khan sold 16,700 shares of the firm’s stock in a transaction on Monday, September 16th. The shares were 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 trade represents a 0.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 91,417 shares of company stock valued at $1,524,546. Corporate insiders own 0.97% of the company’s stock.

Analyst Ratings Changes

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

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.