Magnegas Applied Tchnlgy Sltns (MNGA) Trading Down 5.2%

Magnegas Applied Tchnlgy Sltns Inc (NASDAQ:MNGA) traded down 5.2% on Tuesday . The company traded as low as $0.92 and last traded at $0.92. 2,064,447 shares were traded during trading, an increase of 31% from the average session volume of 1,574,021 shares. The stock had previously closed at $0.97.

Separately, HC Wainwright reissued a “buy” rating and set a $1.50 price target on shares of Magnegas Applied Tchnlgy Sltns in a research note on Thursday, November 15th.

The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.40 and a current ratio of 1.97.

Magnegas Applied Tchnlgy Sltns (NASDAQ:MNGA) last issued its quarterly earnings data on Wednesday, November 14th. The oil and gas company reported ($0.10) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.12) by $0.02. The firm had revenue of $2.60 million during the quarter, compared to analysts’ expectations of $3.13 million. Magnegas Applied Tchnlgy Sltns had a negative net margin of 182.04% and a negative return on equity of 98.33%. As a group, equities research analysts forecast that Magnegas Applied Tchnlgy Sltns Inc will post -10.4 earnings per share for the current year.

An institutional investor recently bought a new position in Magnegas Applied Tchnlgy Sltns stock. Geode Capital Management LLC acquired a new stake in shares of Magnegas Applied Tchnlgy Sltns Inc (NASDAQ:MNGA) in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 920,715 shares of the oil and gas company’s stock, valued at approximately $227,000. Geode Capital Management LLC owned 11.87% of Magnegas Applied Tchnlgy Sltns as of its most recent filing with the Securities & Exchange Commission. 14.76% of the stock is currently owned by institutional investors and hedge funds.

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Magnegas Applied Tchnlgy Sltns Company Profile (NASDAQ:MNGA)

MagneGas Applied Technology Solutions, Inc, an alternative energy company, creates and produces hydrogen based fuel through the gasification of liquid and liquid waste in the United States and internationally. The company offers MagneGas2, a hydrogen-based fuel for metal cutting as an alternative to acetylene.

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