MagneGas (MNGA) Reaches New 12-Month High and Low at $0.50

MagneGas Co. (NASDAQ:MNGA) shares hit a new 52-week high and low on Friday . The stock traded as low as $0.50 and last traded at $0.50, with a volume of 6600 shares traded. The stock had previously closed at $0.52.

Separately, HC Wainwright set a $6.00 price objective on MagneGas and gave the stock a “buy” rating in a research report on Wednesday, May 16th.

The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.07 and a current ratio of 1.64.

An institutional investor recently raised its position in MagneGas stock. Renaissance Technologies LLC increased its holdings in MagneGas Co. (NASDAQ:MNGA) by 22.7% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 356,244 shares of the oil and gas company’s stock after acquiring an additional 65,900 shares during the period. Renaissance Technologies LLC owned approximately 20.36% of MagneGas worth $114,000 at the end of the most recent quarter. 2.06% of the stock is currently owned by institutional investors and hedge funds.

MagneGas Company Profile

MagneGas Corporation, an alternative energy company, creates and produces hydrogen based alternative fuel through the gasification of liquid and liquid waste in the United States and internationally. The company produces gas bottled in cylinders and distributes to the metalworking market as an alternative to acetylene.

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