MagneGas Co. (NASDAQ:MNGA) reached a new 52-week low during trading on Wednesday . The company traded as low as $0.33 and last traded at $0.37, with a volume of 338900 shares trading hands. The stock had previously closed at $0.37.
Separately, ValuEngine raised shares of MagneGas from a “strong sell” rating to a “sell” rating in a research report on Tuesday, September 12th.
The company has a debt-to-equity ratio of 0.08, a current ratio of 0.70 and a quick ratio of 0.26.
A hedge fund recently raised its stake in MagneGas stock. Virtu KCG Holdings LLC grew its stake in MagneGas Co. (NASDAQ:MNGA) by 709.9% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund 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 worth $136,000 at the end of the most recent quarter. Hedge funds and other institutional investors own 5.23% of the company’s stock.
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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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