MagneGas (MNGA) Reaches New 12-Month Low at $2.90

MagneGas Co. (NASDAQ:MNGA)’s share price hit a new 52-week low during trading on Tuesday . The stock traded as low as $2.90 and last traded at $2.91, with a volume of 702199 shares changing hands. The stock had previously closed at $3.23.

The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.26 and a current ratio of 0.70. The stock has a market cap of $33.11, a PE ratio of -0.08 and a beta of -0.41.

MagneGas (NASDAQ:MNGA) last issued its quarterly earnings results on Wednesday, November 15th. The oil and gas company reported ($0.39) EPS for the quarter. MagneGas had a negative net margin of 371.23% and a negative return on equity of 277.02%. The business had revenue of $0.88 million during the quarter. equities analysts anticipate that MagneGas Co. will post -14.09 EPS for the current year.

In other MagneGas news, Director Kevin Pollack purchased 108,334 shares of the firm’s stock in a transaction on Friday, December 15th. The stock was bought at an average price of $0.29 per share, with a total value of $31,416.86. Following the transaction, the director now directly owns 131,813 shares of the company’s stock, valued at approximately $38,225.77. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders sold a total of 170,843 shares of company stock valued at $55,888 in the last three months. 4.45% of the stock is currently owned by corporate insiders.

A hedge fund recently raised its stake in MagneGas stock. Virtu KCG Holdings LLC raised its holdings in MagneGas Co. (NASDAQ:MNGA) by 709.9% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 110,468 shares of the oil and gas company’s stock after buying an additional 96,829 shares during the period. Virtu KCG Holdings LLC owned approximately 1.85% of MagneGas worth $136,000 as of its most recent SEC filing. 3.81% of the stock is currently owned by hedge funds and other institutional investors.

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About MagneGas

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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