Magna International Inc. (MGA) stock is higher by 5.39% over the past week and gets a Neutral rating from InvestorsObserver's Sentiment Indicator.
What is Stock Sentiment?
Sentiment is a very short-term indicator that is entirely technical. There is no information about the health of profitability of the underlying company in our sentiment score.
As a technical indicator, news about the stock, or company, such as an earnings release or other event, could move the stock counter to the recent trend.
Price action is generally the best indicator of sentiment. For a stock to go up, investors must feel good about it. Similarly, a stock that is in a downtrend must be out of favor.
InvestorsObserver’s Sentiment Indicator considers price action and recent trends in volume. Increasing volumes often mean that a trend is strengthening, while decreasing volumes can signal that a reversal could come soon.
The options market is another place to get signals about sentiment. Since options allow investors to place bets on the price of a stock, we consider the ratio of calls and puts for stocks where options are available.
What's Happening With MGA Stock Today?
Magna International Inc. (MGA) stock is trading at $45.93 as of 11:29 AM on Monday, Sep 28, a gain of $1.42, or 3.18% from the previous closing price of $44.51. The stock has traded between $45.26 and $46.25 so far today. Volume today is low. So far 237,403 shares have traded compared to average volume of 848,374 shares.
To see the top 5 stocks in the Auto Parts industry click here.
More About Magna International Inc.
Magna International prides itself on a highly entrepreneurial culture and a corporate constitution that outlines distribution of profits to various stakeholders. This automotive supplier's product groups include exteriors, interiors, seating, roof systems, body and chassis, powertrain, vision and electronic systems, closure systems, electric vehicle systems, tooling and engineering, and contracted vehicle assembly. Roughly half of Magna's revenue comes from North America while Europe accounts for approximately 44%.
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