Shares of Magna International (MGA) Sees Large Inflow of Net Money Flow

Magna International (MGA) : Fridays money flow data in Magna International (MGA) suggests that the bulls made the most of the weakness in the stock. The inflow of money into the stock on upticks was $5.72 million, whereas, $4.75 million worth of transactions were done on downticks. The ratio between the two, uptick and downtick stood at 1.21, in favor of the bulls. The total money flow into the stock was $0.97 million clearly indicating that the smart money has been buying into the stock on weakness.

In comparison, the money flow in block deals was $0.77 million. The total value of block trades done on upticks was $0.77 million. Magna International (MGA) fell $0.03 and traded at $38.78, down -0.08% for the day, over previous days close. On a weekly basis, the shares are 3.47% over the previous weeks close.


Magna International (MGA) : The highest level Magna International (MGA) is projected to reach is $63 for the short term and the lowest estimate is at $44. The consolidated price target from 8 rating analysts who initiate coverage on the stock is $56.46 and the possibility the share price can swing is $6.22.

Magna International (NYSE:MGA): stock turned positive on Friday. Though the stock opened at $38.91, the bulls momentum made the stock top out at $38.97 level for the day. The stock recorded a low of $38.288 and closed the trading day at $38.89, in the green by 0.21%. The total traded volume for the day was 1,085,332. The stock had closed at $38.81 in the previous days trading.

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.

Leave a Reply

Get Pre-Market Alerts!

Get Pre-Market Analysts' Upgrades, Downgrades, Earnings & Initiations with our FREE daily email newsletter.