MagneGas Corporation (MNGA) Trading Down 9.8%
MagneGas Corporation (NASDAQ:MNGA) traded down 9.8% during mid-day trading on Wednesday . The company traded as low as $0.33 and last traded at $0.37. 1,147,700 shares were traded during trading, an increase of 245% from the average session volume of 332,700 shares. The stock had previously closed at $0.41.
Separately, ValuEngine upgraded shares of MagneGas Corporation from a “strong sell” rating to a “sell” rating in a research note on Tuesday, September 12th.
The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.26 and a current ratio of 0.70.
MagneGas Corporation (NASDAQ:MNGA) last posted its quarterly earnings results on Wednesday, November 15th. The oil and gas company reported ($0.39) earnings per share for the quarter. MagneGas Corporation had a negative net margin of 371.23% and a negative return on equity of 277.02%. The company had revenue of $0.88 million during the quarter. equities research analysts anticipate that MagneGas Corporation will post -0.94 earnings per share for the current year.
An institutional investor recently raised its position in MagneGas Corporation stock. Virtu KCG Holdings LLC grew its stake in MagneGas Corporation (NASDAQ:MNGA) by 709.9% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor 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 about 1.85% of MagneGas Corporation worth $136,000 as of its most recent filing with the Securities and Exchange Commission. Hedge funds and other institutional investors own 8.33% of the company’s stock.
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MagneGas Corporation 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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