MagneGas (MNGA) Sees Unusually-High Trading Volume

MagneGas Co. (NASDAQ:MNGA) saw strong trading volume on Friday . 2,684,315 shares changed hands during mid-day trading, an increase of 178% from the previous session’s volume of 967,024 shares.The stock last traded at $0.33 and had previously closed at $0.31.

The company has a debt-to-equity ratio of 0.08, a current ratio of 0.70 and a quick ratio of 0.26. The firm has a market capitalization of $4.06, a price-to-earnings ratio of -0.15 and a beta of -0.41.

MagneGas (NASDAQ:MNGA) last posted its quarterly earnings data on Wednesday, November 15th. The oil and gas company reported ($0.39) earnings per share (EPS) for the quarter. MagneGas had a negative return on equity of 277.02% and a negative net margin of 371.23%. The firm had revenue of $0.88 million during the quarter. analysts anticipate that MagneGas Co. will post -0.94 earnings per share for the current fiscal year.

In other news, Director Carla Santilli sold 108,334 shares of the company’s stock in a transaction dated Friday, January 12th. The stock was sold at an average price of $0.31, for a total value of $33,583.54. Following the completion of the transaction, the director now directly owns 375,199 shares in the company, valued at approximately $116,311.69. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders sold a total of 180,843 shares of company stock valued at $60,288 over the last quarter. Company insiders own 4.45% of the company’s stock.

An institutional investor recently raised its position in MagneGas stock. Virtu KCG Holdings LLC lifted its position in MagneGas Co. (NASDAQ:MNGA) by 709.9% in the second quarter, according to 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 purchasing an additional 96,829 shares during the quarter. Virtu KCG Holdings LLC owned 1.85% of MagneGas worth $136,000 at the end of the most recent quarter. Institutional investors and hedge funds own 3.81% of the company’s stock.

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MagneGas 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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