MagneGas (MNGA) Trading Down 0%

MagneGas Co. (NASDAQ:MNGA)’s share price fell 0% on Monday . The company traded as low as $0.15 and last traded at $0.16. 1,300 shares were traded during mid-day trading, a decline of 100% from the average session volume of 1,588,542 shares. The stock had previously closed at $0.16.

Separately, HC Wainwright restated a “buy” rating and issued a $6.00 target price on shares of MagneGas in a research note on Wednesday, August 15th.

The company has a current ratio of 1.36, a quick ratio of 0.79 and a debt-to-equity ratio of 0.06.

MagneGas (NASDAQ:MNGA) last announced its quarterly earnings data on Tuesday, August 14th. The oil and gas company reported ($0.23) EPS for the quarter, missing the consensus estimate of ($0.13) by ($0.10). The firm had revenue of $2.91 million for the quarter, compared to the consensus estimate of $1.93 million. MagneGas had a negative net margin of 226.28% and a negative return on equity of 115.89%. research analysts forecast that MagneGas Co. will post -0.74 EPS for the current year.

About MagneGas (NASDAQ:MNGA)

MagneGas Corporation, an alternative energy company, creates and produces hydrogen based fuel through the gasification of liquid and liquid waste in the United States and internationally. It offers MagneGas2, a hydrogen-based fuel for metal cutting as an alternative to acetylene. The company also provides Plasma Arc Flow refineries, which are machines that produce MagneGas2.

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