Magnera (NYSE:MAGN) Trading Down 1.2% – What’s Next?

Magnera Corporation (NYSE:MAGN)’s share price was down 1.2% during mid-day trading on Friday . The stock traded as low as $10.86 and last traded at $10.9330. Approximately 270,859 shares were traded during mid-day trading, a decline of 32% from the average daily volume of 398,005 shares. The stock had previously closed at $11.07.

Analysts Set New Price Targets

A number of research analysts recently issued reports on MAGN shares. Weiss Ratings reissued a “sell (d-)” rating on shares of Magnera in a research report on Monday, December 29th. Vertical Research downgraded shares of Magnera from a “buy” rating to a “hold” rating and set a $16.00 target price for the company. in a research note on Wednesday, January 7th. Wall Street Zen lowered shares of Magnera from a “hold” rating to a “sell” rating in a report on Saturday, February 7th. Finally, Wells Fargo & Company boosted their price target on Magnera from $18.00 to $19.00 and gave the stock an “overweight” rating in a research report on Friday, February 6th. One analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Magnera has an average rating of “Hold” and a consensus price target of $17.50.

Magnera Stock Performance

The company has a market capitalization of $392.49 million, a PE ratio of -4.19 and a beta of 1.69. The company has a current ratio of 2.45, a quick ratio of 1.60 and a debt-to-equity ratio of 1.86. The business’s fifty day moving average is $13.55 and its two-hundred day moving average is $12.34.

Magnera (NYSE:MAGN) last issued its earnings results on Thursday, February 5th. The company reported ($0.34) EPS for the quarter. Magnera had a negative net margin of 4.04% and a negative return on equity of 12.30%. The business had revenue of $792.00 million for the quarter.

Hedge Funds Weigh In On Magnera

A number of hedge funds have recently bought and sold shares of MAGN. Dynamic Technology Lab Private Ltd purchased a new stake in shares of Magnera during the 1st quarter valued at about $208,000. Empowered Funds LLC purchased a new position in shares of Magnera during the first quarter valued at approximately $965,000. Geode Capital Management LLC raised its holdings in shares of Magnera by 110.0% during the second quarter. Geode Capital Management LLC now owns 783,413 shares of the company’s stock valued at $9,465,000 after purchasing an additional 410,303 shares during the last quarter. Police & Firemen s Retirement System of New Jersey bought a new position in Magnera during the second quarter valued at approximately $92,000. Finally, Intech Investment Management LLC purchased a new stake in Magnera in the second quarter worth approximately $194,000. Hedge funds and other institutional investors own 76.92% of the company’s stock.

Magnera Company Profile

Magnera’s purpose is to better the world with new possibilities made real. By continuously co-creating and innovating with our partners, we develop original material solutions that make a brighter future possible. With a breadth of technologies and a passion for what we create, Magnera’s solutions propel our customers’ goals forward and solve end-users’ problems, every day.