Magnegas Applied Tchnlgy Sltns (MNGA) Shares Gap Up to $0.25

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Magnegas Applied Tchnlgy Sltns Inc (NASDAQ:MNGA) gapped up prior to trading on Tuesday . The stock had previously closed at $0.23, but opened at $0.25. Magnegas Applied Tchnlgy Sltns shares last traded at $0.25, with a volume of 17743 shares trading hands.

Separately, HC Wainwright reiterated a “buy” rating and issued a $6.00 price target on shares of Magnegas Applied Tchnlgy Sltns in a research report on Wednesday, August 15th.

The company has a debt-to-equity ratio of 0.06, a current ratio of 1.36 and a quick ratio of 0.79.

Magnegas Applied Tchnlgy Sltns (NASDAQ:MNGA) last released its quarterly earnings results on Tuesday, August 14th. The oil and gas company reported ($0.23) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.10). Magnegas Applied Tchnlgy Sltns had a negative net margin of 226.28% and a negative return on equity of 115.89%. The business had revenue of $2.91 million during the quarter, compared to analyst estimates of $1.93 million. Sell-side analysts expect that Magnegas Applied Tchnlgy Sltns Inc will post -0.74 earnings per share for the current fiscal year.

Magnegas Applied Tchnlgy Sltns Company Profile (NASDAQ:MNGA)

MagneGas Applied Technology Solutions, Inc, an alternative energy company, creates and produces hydrogen based fuel through the gasification of liquid and liquid waste in the United States and internationally. The company offers MagneGas2, a hydrogen-based fuel for metal cutting as an alternative to acetylene.

See Also: Cost of Debt

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