MagneGas Corporation (NASDAQ:MNGA) Reaches New 12-Month Low at $0.59
Shares of MagneGas Corporation (NASDAQ:MNGA) reached a new 52-week low on Monday . The company traded as low as $0.59 and last traded at $0.59, with a volume of 490,144 shares. The stock had previously closed at $0.60.
Separately, ValuEngine raised shares of MagneGas Corporation from a “sell” rating to a “hold” rating in a research note on Tuesday, May 23rd.
The stock’s market cap is $2.50 million. The company’s 50 day moving average price is $0.97 and its 200 day moving average price is $2.94.
MagneGas Corporation (NASDAQ:MNGA) last issued its earnings results on Monday, May 15th. The oil and gas company reported ($0.30) earnings per share (EPS) for the quarter. The firm had revenue of $0.87 million during the quarter. MagneGas Corporation had a negative return on equity of 259.45% and a negative net margin of 470.82%. Equities analysts expect that MagneGas Corporation will post ($1.20) EPS for the current fiscal year.
An institutional investor recently raised its position in MagneGas Corporation stock. Virtu KCG Holdings LLC raised its stake in shares of MagneGas Corporation (NASDAQ:MNGA) by 709.9% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). 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 about 1.85% of MagneGas Corporation worth $136,000 at the end of the most recent reporting period. Institutional investors and hedge funds own 27.96% of the company’s stock.
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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