Magnera (NYSE:MAGN) Shares Up 2.2% – Still a Buy?

Magnera Corporation (NYSE:MAGN) shares rose 2.2% during trading on Friday . The stock traded as high as $12.99 and last traded at $12.8810. Approximately 250,149 shares traded hands during trading, a decline of 26% from the average session volume of 337,334 shares. The stock had previously closed at $12.60.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the company. Weiss Ratings raised Magnera from a “sell (d)” rating to a “sell (d+)” rating in a research report on Monday, June 1st. Wells Fargo & Company upped their target price on shares of Magnera from $12.00 to $13.00 and gave the stock an “equal weight” rating in a research note on Friday, May 8th. Two research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Magnera currently has a consensus rating of “Reduce” and an average price target of $14.50.

Magnera Trading Up 2.2%

The company has a debt-to-equity ratio of 1.83, a quick ratio of 1.55 and a current ratio of 2.33. The company’s 50-day moving average price is $11.59 and its 200-day moving average price is $12.13. The firm has a market capitalization of $461.14 million, a PE ratio of -6.57 and a beta of 1.77.

Magnera (NYSE:MAGN) last posted its quarterly earnings results on Thursday, May 7th. The company reported ($0.50) earnings per share for the quarter. The business had revenue of $796.00 million during the quarter. Magnera had a negative net margin of 3.37% and a negative return on equity of 10.30%.

Institutional Investors Weigh In On Magnera

Several institutional investors have recently added to or reduced their stakes in the business. Quadrant Capital Group LLC raised its holdings in Magnera by 702.6% during the fourth quarter. Quadrant Capital Group LLC now owns 1,862 shares of the company’s stock worth $28,000 after purchasing an additional 1,630 shares in the last quarter. Caitong International Asset Management Co. Ltd grew its position in shares of Magnera by 106.7% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 1,978 shares of the company’s stock valued at $30,000 after buying an additional 1,021 shares during the last quarter. Quarry LP acquired a new stake in Magnera during the 4th quarter worth $30,000. BNP Paribas Financial Markets raised its stake in Magnera by 92.7% during the 2nd quarter. BNP Paribas Financial Markets now owns 3,102 shares of the company’s stock worth $37,000 after acquiring an additional 1,492 shares in the last quarter. Finally, GAMMA Investing LLC raised its stake in Magnera by 13,014.3% during the 4th quarter. GAMMA Investing LLC now owns 3,672 shares of the company’s stock worth $56,000 after acquiring an additional 3,644 shares in the last quarter. 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.