Shares of MagneGas Co. (NASDAQ:MNGA) have been assigned a consensus broker rating score of 1.00 (Strong Buy) from the one analysts that provide coverage for the stock, Zacks Investment Research reports. One investment analyst has rated the stock with a strong buy recommendation.
Analysts have set a one year consensus price target of $3.35 for the company and are expecting that the company will post ($0.12) earnings per share for the current quarter, according to Zacks. Zacks has also assigned MagneGas an industry rank of 16 out of 255 based on the ratings given to related companies.
Separately, HC Wainwright restated a “buy” rating and issued a $6.00 price objective on shares of MagneGas in a research note on Wednesday, August 15th.
MNGA stock opened at $0.38 on Friday. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.79 and a current ratio of 1.36. MagneGas has a fifty-two week low of $0.13 and a fifty-two week high of $8.55.
MagneGas (NASDAQ:MNGA) last released its earnings results on Tuesday, August 14th. The oil and gas company reported ($0.23) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.13) by ($0.10). The company had revenue of $2.91 million for the quarter, compared to the consensus estimate of $1.93 million. MagneGas had a negative return on equity of 115.89% and a negative net margin of 226.28%. As a group, research analysts expect that MagneGas will post -0.74 EPS for the current fiscal year.
MagneGas Company Profile
MagneGas Corporation, an alternative energy company, creates and produces hydrogen based fuel through the gasification of liquid and liquid waste in the United States and internationally. It offers MagneGas2, a hydrogen-based fuel for metal cutting as an alternative to acetylene. The company also provides Plasma Arc Flow refineries, which are machines that produce MagneGas2.
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