Wells Fargo & Company Initiates Coverage on Magnera (NYSE:MAGN)

Wells Fargo & Company initiated coverage on shares of Magnera (NYSE:MAGN) in a research report sent to investors on Thursday, Marketbeat Ratings reports. The firm issued an overweight rating and a $22.00 price target on the stock.

Magnera Trading Up 3.9 %

Shares of MAGN opened at $17.87 on Thursday. The firm has a market cap of $62.53 million, a price-to-earnings ratio of -0.93 and a beta of 1.67. The company has a quick ratio of 1.04, a current ratio of 2.23 and a debt-to-equity ratio of 4.26. Magnera has a 1-year low of $15.80 and a 1-year high of $35.23.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Magnera stock. KBC Group NV purchased a new stake in shares of Magnera Corp (NYSE:MAGN) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 2,814 shares of the company’s stock, valued at approximately $51,000. KBC Group NV owned about 0.08% of Magnera as of its most recent SEC filing. 76.92% of the stock is 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.