Wall Street Zen Downgrades Magnera (NYSE:MAGN) to Sell

Magnera (NYSE:MAGN) was downgraded by research analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Saturday.

MAGN has been the topic of several other research reports. Vertical Research lowered shares of Magnera from a “buy” rating to a “hold” rating and set a $16.00 target price on the stock. in a research note on Wednesday, January 7th. Wells Fargo & Company increased their price objective on shares of Magnera from $18.00 to $19.00 and gave the company an “overweight” rating in a report on Friday. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Magnera in a research note on Monday, December 29th. One research 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’s stock. Based on data from MarketBeat.com, Magnera has an average rating of “Hold” and an average target price of $17.50.

Magnera Price Performance

Magnera stock opened at $14.93 on Friday. The business’s 50-day simple moving average is $14.39 and its 200 day simple moving average is $12.34. The company has a quick ratio of 1.58, a current ratio of 2.45 and a debt-to-equity ratio of 1.86. The stock has a market cap of $535.13 million, a price-to-earnings ratio of -1.95 and a beta of 1.70. Magnera has a 12-month low of $7.82 and a 12-month high of $23.19.

Institutional Trading of Magnera

A number of hedge funds have recently modified their holdings of the company. Dynamic Technology Lab Private Ltd bought a new stake in shares of Magnera in the first quarter worth about $208,000. Empowered Funds LLC acquired a new position in shares of Magnera in the 1st quarter valued at approximately $965,000. Valeo Financial Advisors LLC bought a new stake in Magnera during the 2nd quarter worth approximately $121,000. FNY Investment Advisers LLC increased its stake in Magnera by 88.0% during the 2nd quarter. FNY Investment Advisers LLC now owns 4,400 shares of the company’s stock worth $53,000 after purchasing an additional 2,060 shares in the last quarter. Finally, Y Intercept Hong Kong Ltd acquired a new stake in Magnera during the 2nd quarter worth approximately $770,000. 76.92% of the stock is currently owned by institutional investors and hedge funds.

About Magnera

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.