MagneGas Corporation (MNGA) Upgraded at ValuEngine

ValuEngine upgraded shares of MagneGas Corporation (NASDAQ:MNGA) from a strong sell rating to a sell rating in a research note published on Tuesday morning.

MagneGas Corporation (NASDAQ:MNGA) opened at 0.642596 on Tuesday. The firm’s market cap is $7.82 million. MagneGas Corporation has a 12-month low of $0.40 and a 12-month high of $8.70. The firm’s 50-day moving average is $0.55 and its 200 day moving average is $2.19.

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A hedge fund recently raised its stake in MagneGas Corporation stock. Virtu KCG Holdings LLC grew its holdings in shares of MagneGas Corporation (NASDAQ:MNGA) by 709.9% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor 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 1.85% of MagneGas Corporation worth $136,000 as of its most recent SEC filing. Institutional investors own 2.43% of the company’s stock.

About MagneGas Corporation

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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

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