MagneGas Co. (MNGA) Director Kevin Pollack Purchases 108,334 Shares
MagneGas Co. (NASDAQ:MNGA) Director Kevin Pollack acquired 108,334 shares of the firm’s stock in a transaction that occurred on Friday, December 15th. The stock was purchased at an average price of $0.29 per share, with a total value of $31,416.86. Following the completion of the acquisition, the director now owns 131,813 shares in the company, valued at $38,225.77. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.
Shares of MagneGas Co. (NASDAQ MNGA) traded down $0.01 during midday trading on Monday, reaching $0.29. 337,195 shares of the company were exchanged, compared to its average volume of 350,826. MagneGas Co. has a 52 week low of $0.29 and a 52 week high of $5.70. The company has a quick ratio of 0.26, a current ratio of 0.70 and a debt-to-equity ratio of 0.08.
MagneGas (NASDAQ:MNGA) last announced its quarterly earnings data on Wednesday, November 15th. The oil and gas company reported ($0.39) earnings per share for the quarter. MagneGas had a negative return on equity of 277.02% and a negative net margin of 371.23%. The firm had revenue of $0.88 million during the quarter. sell-side analysts expect that MagneGas Co. will post -0.94 earnings per share for the current fiscal year.
Separately, ValuEngine upgraded shares of MagneGas from a “strong sell” rating to a “sell” rating in a report on Tuesday, September 12th.
MagneGas Company Profile
MagneGas Corporation is an alternative energy company. The Company creates and produces hydrogen-based alternative fuel through the gasification of carbon-rich liquids, including certain liquids and liquid wastes. The Company is also developing the use of fuel for co-combustion with hydrocarbon fuels to reduce emissions.
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