Magnegas Applied Tchnlgy Sltns (MNGA) Shares Down 17.4%

Magnegas Applied Tchnlgy Sltns Inc (NASDAQ:MNGA)’s share price traded down 17.4% during mid-day trading on Friday . The stock traded as low as $0.14 and last traded at $0.19. 69,366,602 shares traded hands during mid-day trading, an increase of 473% from the average session volume of 12,098,300 shares. The stock had previously closed at $0.23.

Separately, HC Wainwright reiterated a “buy” rating and issued 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 for the quarter, topping analysts’ consensus estimates of ($0.12) by $0.02. The business had revenue of $2.60 million for the quarter, compared to analyst estimates of $3.13 million. Magnegas Applied Tchnlgy Sltns had a negative return on equity of 98.33% and a negative net margin of 182.04%. Research analysts predict that Magnegas Applied Tchnlgy Sltns Inc will post -0.52 EPS for the current year.

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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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