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.

TRADEMARK VIOLATION NOTICE: This report was first posted by The Lincolnian Online and is owned by of The Lincolnian Online. If you are reading this report on another site, it was stolen and republished in violation of US & international trademark & copyright law. The original version of this report can be accessed at https://www.thelincolnianonline.com/2018/02/20/magnegas-mnga-reaches-new-52-week-low-at-1-24.html.

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.

Receive News & Ratings for MagneGas Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for MagneGas and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply