MARA Holdings Stock Climbs Despite Mixed Q3 Results: What You Need To Know
Shares of MARA Holdings Inc (NASDAQ:MARA) are trading higher Wednesday morning, showing resilience after the company released mixed third-quarter earnings. Here’s what investors need to know.
- MARA is among today’s top performers. Check the market position here.
What To Know: MARA Holdings posted earnings per share of 27 cents, missing the consensus estimate of 44 cents by 38.22%. However, the company beat on revenue, reporting $252.41 million versus $250.67 million expected, marking a 92% increase year-over-year.
Despite the EPS miss, the company highlighted significant operational growth. Its Bitcoin (CRYPTO: BTC) holdings grew 98% year-over-year to 52,850 BTC, worth over $5 billion. On the earnings call, CEO Fred Thiel noted that while Bitcoin mining “gets little love from investors,” he expects the company’s strategic expansion into AI and energy segments to draw “more attention.”
This strategic pivot is underpinned by key third-quarter initiatives, including a partnership with Marathon Petroleum’s MPLX to develop power facilities and the acquisition of a 64% stake in French computing firm Exaion.
Reflecting the mixed third-quarter earnings, analyst firm Rosenblatt maintained its Buy rating on Wednesday but trimmed its price target from $25 to $22.
Benzinga Edge Rankings: According to Benzinga Edge Rankings, MARA scores exceptionally high on Growth with a rating of 99.13.
MARA Price Action: MARA Holdings shares were up 6.62% at $17.72 at the time of publication on Wednesday, according to Benzinga Pro data.
Read Also: Stock Market Today: Dow, S&P 500, Nasdaq Futures Slip But McDonald’s Rises After Q3 Beat
How To Buy MARA Stock
Besides going to a brokerage platform to purchase a share – or fractional share – of stock, you can also gain access to shares either by buying an exchange traded fund (ETF) that holds the stock itself, or by allocating yourself to a strategy in your 401(k) that would seek to acquire shares in a mutual fund or other instrument.
For example, in MARA Holdings’ case, it is in the Information Technology sector. An ETF will likely hold shares in many liquid and large companies that help track that sector, allowing an investor to gain exposure to the trends within that segment.
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