Magna International (NYSE:MGA), A reduction of 367,854 shares or 12.1% was observed in the short interest of Magna International The interest on June 15,2016 came in at 2,684,331 shares and as per the average daily trading of 1,388,637 shares, the days to cover are 2. The reduced interest is 0.7% of the floated shares. The data of May 31,2016 put the interest at 3,052,185 shares. The information was released by Financial Industry Regulatory Authority, Inc (FINRA) on June 24th after market close.
Magna International (NYSE:MGA): The stock opened at $37.81 on Friday but the bulls could not build on the opening and the stock topped out at $38.07 for the day. The stock traded down to $36.13 during the day, due to lack of any buying support eventually closed down at $36.18 with a loss of -9.82% for the day. The stock had closed at $40.12 on the previous day. The total traded volume was 4,279,962 shares.
The company shares have dropped -34.99% from its 1 Year high price. On Jul 16, 2015, the shares registered one year high at $57.62 and the one year low was seen on Feb 9, 2016. The 50-Day Moving Average price is $40.01 and the 200 Day Moving Average price is recorded at $39.27.
Magna International (NYSE:MGA) has tumbled 8.01% during the past week and has dropped 11.15% in the last 4 week period. The stocks are negative as compared to the S&P 500 for the past week with a loss of 6.48%. Magna International (NYSE:MGA) has underperformed the index by 8.46% in the last 4 weeks. Investors should watch out for further signals and trade with caution.
Magna International Inc. (Magna) is an automotive supplier with approximately 313 manufacturing operations and over 84 product development, engineering and sales centers in approximately 28 countries. Its product capabilities include producing body, chassis, interior, exterior, seating, powertrain, electronic, vision, closure and roof systems and modules, as well as vehicle engineering and contract manufacturing. Its customers include General Motors, Fiat-Chrysler, Ford, BMW, Daimler and Volkswagen. Its offers programs, which include Ford Transit; MINI Countryman; Ford F-Series and F-Series Super Duty; QOROS 3; Ford Mustang; BMW X6; Mercedes-Benz M-Class; BMW X4 and Porsche Panamera. The Company operates in North America, Europe and Asia.