The stock of Magnera Corp (NYSE: MAGN) has decreased by -1.66 when compared to last closing price of 18.40. Despite this, the company has experienced a -2.19% fall in its stock price over the last five trading sessions. globenewswire.com reported 2024-11-04 that CHARLOTTE, N.C., Nov. 04, 2024 (GLOBE NEWSWIRE) — Glatfelter Corporation (NYSE: GLT) is pleased to announce the successful completion of the merger between Berry Global Group Inc.’s (NYSE: BERY) Health, Hygiene and Specialties Global Nonwovens and Films business (the “HHNF Business”) and Glatfelter, resulting in the creation of Magnera (NYSE: MAGN) (pronounced ‘Mag-nair-uh’), the largest nonwovens company in the world, with a broad platform of solutions for the specialty materials industry. Magnera will begin trading on the NYSE under the new ticker symbol “MAGN” on Tuesday, November 5, 2024.
Is It Worth Investing in Magnera Corp (NYSE: MAGN) Right Now?
The 36-month beta value for MAGN is at 1.67. Analysts have varying views on the stock, with 0 analysts rating it as a “buy,” 0 rating it as “overweight,” 0 as “hold,” and 0 as “sell.”
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The public float for MAGN is 3.35M, and currently, shorts hold a 4.18% of that float. The average trading volume for MAGN on November 14, 2024 was 366.84K shares.
MAGN’s Market Performance
MAGN’s stock has seen a -2.19% decrease for the week, with a -20.91% drop in the past month and a -23.10% fall in the past quarter. The volatility ratio for the week is 6.61%, and the volatility levels for the past 30 days are at 7.28% for Magnera Corp The simple moving average for the last 20 days is -15.18% for MAGN stock, with a simple moving average of -18.56% for the last 200 days.
MAGN Trading at -16.99% from the 50-Day Moving Average
After a stumble in the market that brought MAGN to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -48.64% of loss for the given period.
Volatility was left at 7.28%, however, over the last 30 days, the volatility rate increased by 6.61%, as shares sank -20.01% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading -10.14% lower at present.
During the last 5 trading sessions, MAGN fell by -2.76%, which changed the moving average for the period of 200-days by -4.56% in comparison to the 20-day moving average, which settled at $21.33. In addition, Magnera Corp saw -28.25% in overturn over a single year, with a tendency to cut further losses.
Stock Fundamentals for MAGN
Equity return is now at value -30.65, with -4.62 for asset returns.
The liquidity ratio also appears to be rather interesting for investors as it stands at 2.23.
Conclusion
In conclusion, Magnera Corp (MAGN) has had a bad performance lately. Opinion on the stock among analysts is mixed, with some giving it a “buy” rating and others a “hold”. It’s important to note that the stock is currently trading at a significant distance from its 50-day moving average and its 52-week high.
