Equities Analysts Issue Forecasts for MagneGas Co.’s FY2017 Earnings (NASDAQ:MNGA)

MagneGas Co. (NASDAQ:MNGA) – Stock analysts at Seethru Equity issued their FY2017 earnings per share (EPS) estimates for MagneGas in a research report issued on Monday, Zacks Investment Research reports. Seethru Equity analyst A. Tandon forecasts that the oil and gas company will earn ($0.94) per share for the year.

Separately, ValuEngine upgraded MagneGas from a “strong sell” rating to a “sell” rating in a report on Tuesday, September 12th.

Shares of MagneGas (NASDAQ MNGA) traded up $0.01 during trading on Wednesday, reaching $0.35. The company’s stock had a trading volume of 195,965 shares, compared to its average volume of 339,057. The company has a debt-to-equity ratio of 0.08, a current ratio of 0.70 and a quick ratio of 0.26. MagneGas has a 52-week low of $0.32 and a 52-week high of $5.70.

MagneGas (NASDAQ:MNGA) last issued its quarterly earnings results on Wednesday, November 15th. The oil and gas company reported ($0.39) earnings per share for the quarter. MagneGas had a negative return on equity of 277.02% and a negative net margin of 371.23%. The business had revenue of $0.88 million for the quarter.

A hedge fund recently raised its stake in MagneGas stock. Virtu KCG Holdings LLC lifted its stake in shares of MagneGas Co. (NASDAQ:MNGA) by 709.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). 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 about 1.85% of MagneGas worth $136,000 at the end of the most recent reporting period. Institutional investors and hedge funds own 5.23% of the company’s stock.

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About MagneGas

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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