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.

An institutional investor recently raised its position in MagneGas stock. Virtu KCG Holdings LLC boosted its stake in MagneGas Co. (NASDAQ:MNGA) by 709.9% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 110,468 shares of the oil and gas company’s stock after purchasing an additional 96,829 shares during the period. Virtu KCG Holdings LLC owned approximately 1.85% of MagneGas worth $136,000 at the end of the most recent quarter. 5.23% of the stock is owned by institutional investors.

Separately, ValuEngine upgraded shares of MagneGas from a “strong sell” rating to a “sell” rating in a report on Tuesday, September 12th.

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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.

Insider Buying and Selling by Quarter for MagneGas (NASDAQ:MNGA)

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