MARA Holdings Inc MARA shares are moving higher. Positive analyst coverage appears to be boosting the Bitcoin BTC/USD mining stock Monday morning.
What To Know: Cantor Fitzgerald analyst Brett Knoblauch maintained MARA Holdings with an Overweight rating and raised the price target from $34 to $39, suggesting significant upside from current levels.
Meanwhile, JPMorgan analyst Reginald Smith upgraded MARA Holdings from Neutral to Overweight and raised the price target from $19 to $22, citing improving mining economics and anticipated hashrate growth.
“MARA is an ‘asset light’ bitcoin miner in the midst of moving towards a more traditional, vertically integrated model,” Smith wrote in a new note to clients on Monday.
MARA Holdings has entered into more traditional hosting agreements with data center operators than most of the publicly listed mining companies. The company’s infrastructure light approach has allowed it to maximize investments in mining machines instead of power infrastructure. Through recent acquisitions, MARA Holdings has started to operate its own mining facilities, driving improving mining results.
The company’s revised hashrate target of 75 EH/s is not reflected in the current share price, according to the JPMorgan analyst, who sees over 30% upside from current levels.
“Our revised price target values MARA’s mining business at $2.5bn, its land & power portfolio at $900M, and HODL balance at $7.6bn,” Smith said.
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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’s 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.
MARA Price Action: MARA Holdings shares were up 2.26% at $17.65 at the time of publication Monday, according to Benzinga Pro.
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Reveal Full ScoreEdge RankingsMomentum20.40Growth28.24QualityN/AValue57.05Price TrendShortMediumLongOverview$BTCBitcoin – United States dollar$118843.70-0.52%Market News and Data brought to you by Benzinga APIs
