Brokerages Expect Magnegas Applied Tchnlgy Sltns Inc (MNGA) Will Post Quarterly Sales of $3.19 Million

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Equities analysts predict that Magnegas Applied Tchnlgy Sltns Inc (NASDAQ:MNGA) will announce $3.19 million in sales for the current fiscal quarter, Zacks reports. Two analysts have made estimates for Magnegas Applied Tchnlgy Sltns’ earnings. The company is expected to report its next earnings results on Wednesday, February 13th.

On average, analysts expect that Magnegas Applied Tchnlgy Sltns will report full-year sales of $10.03 million for the current financial year, with estimates ranging from $9.87 million to $10.35 million. For the next financial year, analysts anticipate that the company will report sales of $18.34 million, with estimates ranging from $16.00 million to $22.21 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of research firms that that provide coverage for Magnegas Applied Tchnlgy Sltns.

Magnegas Applied Tchnlgy Sltns (NASDAQ:MNGA) last announced its quarterly earnings data on Wednesday, November 14th. The oil and gas company reported ($0.10) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.12) by $0.02. The firm had revenue of $2.60 million during the quarter, compared to analysts’ expectations of $3.13 million. Magnegas Applied Tchnlgy Sltns had a negative return on equity of 98.33% and a negative net margin of 182.04%.

Separately, HC Wainwright reissued a “buy” rating and set a $1.50 price objective on shares of Magnegas Applied Tchnlgy Sltns in a report on Thursday, November 15th.

NASDAQ:MNGA traded down $0.05 on Friday, hitting $0.87. 4,017,957 shares of the stock were exchanged, compared to its average volume of 1,974,333. Magnegas Applied Tchnlgy Sltns has a 52 week low of $0.82 and a 52 week high of $34.40. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.97 and a quick ratio of 1.40.

A hedge fund recently bought a new stake in Magnegas Applied Tchnlgy Sltns stock. Northern Trust Corp bought a new position in shares of Magnegas Applied Tchnlgy Sltns Inc (NASDAQ:MNGA) in the 4th quarter, according to its most recent 13F filing with the SEC. The fund bought 207,710 shares of the oil and gas company’s stock, valued at approximately $51,000. Northern Trust Corp owned 2.68% of Magnegas Applied Tchnlgy Sltns at the end of the most recent quarter. 14.76% of the stock is currently owned by institutional investors and hedge funds.

About Magnegas Applied Tchnlgy Sltns

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.

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