MagneGas (MNGA) Reaches New 52-Week Low at $1.24

MagneGas Co. (NASDAQ:MNGA) shares reached a new 52-week low during mid-day trading on Tuesday . The stock traded as low as $1.24 and last traded at $1.31, with a volume of 294700 shares traded. The stock had previously closed at $1.31.

The stock has a market cap of $2.30, a P/E ratio of -0.04 and a beta of -1.01. The company has a quick ratio of 0.26, a current ratio of 0.70 and a debt-to-equity ratio of 0.08.

In other news, Director Kevin Pollack bought 108,334 shares of the firm’s stock in a transaction that occurred on Friday, December 15th. The stock was acquired at an average price of $0.29 per share, with a total value of $31,416.86. Following the completion of the purchase, the director now directly owns 131,813 shares of the company’s stock, valued at approximately $38,225.77. The acquisition was disclosed in a filing with the SEC, which is available at this link. Company insiders own 4.45% of the company’s stock.

An institutional investor recently raised its position in MagneGas stock. Virtu KCG Holdings LLC boosted its position in shares of MagneGas Co. (NASDAQ:MNGA) by 709.9% in the 2nd quarter, according to its most recent disclosure with the Securities & 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 quarter. Virtu KCG Holdings LLC owned 1.85% of MagneGas worth $136,000 at the end of the most recent quarter. 39.68% of the stock is currently owned by institutional investors.

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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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