Somewhat Favorable News Coverage Somewhat Unlikely to Affect MagneGas (MNGA) Share Price

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Media coverage about MagneGas (NASDAQ:MNGA) has trended somewhat positive recently, according to Accern. Accern identifies positive and negative news coverage by monitoring more than twenty million news and blog sources in real-time. Accern ranks coverage of publicly-traded companies on a scale of negative one to one, with scores closest to one being the most favorable. MagneGas earned a news impact score of 0.05 on Accern’s scale. Accern also gave media headlines about the oil and gas company an impact score of 48.294599731176 out of 100, meaning that recent news coverage is somewhat unlikely to have an effect on the stock’s share price in the next several days.

These are some of the news stories that may have effected Accern’s analysis:

MNGA traded down $0.01 during trading on Thursday, reaching $0.23. The stock had a trading volume of 1,624,100 shares, compared to its average volume of 1,580,223. The company has a current ratio of 1.36, a quick ratio of 0.79 and a debt-to-equity ratio of 0.06. MagneGas has a one year low of $0.21 and a one year high of $11.40.

MagneGas (NASDAQ:MNGA) last posted its quarterly earnings data on Tuesday, August 14th. The oil and gas company reported ($0.23) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.10). The firm had revenue of $2.91 million during 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%. research analysts forecast that MagneGas will post -0.83 earnings per share for the current fiscal year.

Separately, HC Wainwright reiterated a “buy” rating and issued a $6.00 price objective on shares of MagneGas in a report on Wednesday, August 15th.

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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