Magnera Corp (NYSE:MAGN) shares, rose in value on Thursday, November 21, with the stock price up by 3.74% to the previous day’s close as strong demand from buyers drove the stock to $19.14.
Actively observing the price movement in the last trading, the stock closed the session at $18.45, falling within a range of $18.22 and $19.21. Referring to stock’s 52-week performance, its high was $35.23, and the low was $15.80. On the whole, MAGN has fluctuated by -15.38% over the past month.
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With the market capitalization of Magnera Corp currently standing at about $676.44 million, investors are eagerly awaiting this quarter’s results, scheduled for in December.
Technical indicators serve as essential tools for traders, offering insights into market sentiment and potential price movements. We see that MAGN’s technical picture suggests that short-term indicators denote the stock is a 100% Sell on average. However, medium-term indicators have put the stock in the category of Hold while long-term indicators on average have been pointing out that it is a 100% Sell.
The stock’s technical analysis shows that the price of MAGN currently trading nearly -5.89% and -11.56% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 43.83, while the 7-day volatility ratio is showing 6.08% which for the 30-day chart, stands at 7.73%. Furthermore, Magnera Corp (MAGN)’s beta value is 1.69, and its average true range (ATR) is 1.40.
A comparison of Magnera Corp (MAGN) with its peers suggests the former has fared considerably weaker in the market. MAGN showed an intraday change of 3.74% in last session, and over the past year, it grew by 2.24%%.
Data on historical trading for Magnera Corp (NYSE:MAGN) indicates that the trading volumes over the past 10 days have averaged 1.99 and over the past 3 months, they’ve averaged 481.03K. According to company’s latest data on outstanding shares, there are 35.34 million shares outstanding.
Nearly 4.37% of Magnera Corp’s shares belong to company insiders and institutional investors own 6.20% of the company’s shares. The stock has fallen by -24.11% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the MAGN stock heading into the next quarter.
