$3.19 Million in Sales Expected for Magnegas Applied Tchnlgy Sltns Inc (MNGA) This Quarter

Wall Street analysts predict that Magnegas Applied Tchnlgy Sltns Inc (NASDAQ:MNGA) will announce $3.19 million in sales for the current quarter, Zacks reports. Two analysts have made estimates for Magnegas Applied Tchnlgy Sltns’ earnings. The business is scheduled to issue its next quarterly earnings report on Wednesday, February 13th.

According to Zacks, analysts expect that Magnegas Applied Tchnlgy Sltns will report full year sales of $10.03 million for the current financial year, with estimates ranging from $9.87 million to $10.35 million. For the next year, analysts expect that the business will report sales of $17.94 million, with estimates ranging from $14.80 million to $22.21 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of analysts that cover Magnegas Applied Tchnlgy Sltns.

Magnegas Applied Tchnlgy Sltns (NASDAQ:MNGA) last announced its earnings results on Wednesday, November 14th. The oil and gas company reported ($0.10) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.12) by $0.02. The company had revenue of $2.60 million during the quarter, compared to the consensus estimate 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%.

Separately, HC Wainwright reiterated a “buy” rating and issued a $6.00 target price on shares of Magnegas Applied Tchnlgy Sltns in a report on Wednesday, August 15th.

Shares of MNGA stock traded down $0.01 on Monday, hitting $0.29. The stock had a trading volume of 6,072,200 shares, compared to its average volume of 6,260,148. The company has a current ratio of 1.97, a quick ratio of 1.40 and a debt-to-equity ratio of 0.04. Magnegas Applied Tchnlgy Sltns has a 12-month low of $0.13 and a 12-month high of $7.14.

About Magnegas Applied Tchnlgy Sltns

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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