Magnera (NYSE:MAGN) Research Coverage Started at Wells Fargo & Company

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

Magnera Stock Performance

Magnera stock opened at $17.87 on Thursday. The company has a market capitalization of $62.53 million, a P/E ratio of -0.93 and a beta of 1.67. Magnera has a twelve month low of $15.80 and a twelve month high of $35.23. The company has a current ratio of 2.23, a quick ratio of 1.04 and a debt-to-equity ratio of 4.26.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Magnera stock. Ballentine Partners LLC purchased a new stake in shares of Magnera Corp (NYSE:MAGN) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 16,254 shares of the company’s stock, valued at approximately $295,000. Ballentine Partners LLC owned approximately 0.46% of Magnera as of its most recent SEC filing. Institutional investors and hedge funds own 76.92% of the company’s stock.

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.