The stock of Magnera Corp (NYSE: MAGN) has decreased by -2.73 when compared to last closing price of 18.70.Despite this, the company has seen a gain of 1.28% in its stock price over the last five trading days. seekingalpha.com reported 2024-11-27 that Joel Greenblatt’s special situations strategy targets opportunities in risk arbitrage, mergers, bankruptcies, and spinoffs due to potential stock mispricing. Magnera Corporation, a spinoff of Berry Global Group and Glatfelter Corp., exemplifies Greenblatt’s strategy. The deal, closed on November 4, resulted in BERY shareholders owning 90% of MAGN, with MAGN trading on the NYSE on November 5.
Is It Worth Investing in Magnera Corp (NYSE: MAGN) Right Now?
The stock has a 36-month beta value of 1.68. Opinions on the stock are mixed, with 0 analysts rating it as a “buy,” 0 as “overweight,” 0 as “hold,” and 0 as “sell.”
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The public float for MAGN is 35.12M, and at present, short sellers hold a 6.34% of that float. On December 27, 2024, the average trading volume of MAGN was 729.34K shares.
MAGN’s Market Performance
The stock of Magnera Corp (MAGN) has seen a 1.28% increase in the past week, with a -11.05% drop in the past month, and a -24.77% fall in the past quarter. The volatility ratio for the week is 3.79%, and the volatility levels for the past 30 days are at 4.53% for MAGN. The simple moving average for the past 20 days is -5.03% for MAGN’s stock, with a -14.11% simple moving average for the past 200 days.
MAGN Trading at -9.63% 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 -48.37% of loss for the given period.
Volatility was left at 4.53%, however, over the last 30 days, the volatility rate increased by 3.79%, as shares sank -7.00% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading -20.50% lower at present.
During the last 5 trading sessions, MAGN rose by +1.28%, which changed the moving average for the period of 200-days by -27.87% in comparison to the 20-day moving average, which settled at $19.15. In addition, Magnera Corp saw -27.87% 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
To sum up, Magnera Corp (MAGN) has seen a bad performance recently. Analysts have differing views on the stock, with some seeing it as a “buy” and others as 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.
