Magnegas Applied Tchnlgy Sltns Inc (MNGA) Short Interest Down 49.0% in January

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Magnegas Applied Tchnlgy Sltns Inc (NASDAQ:MNGA) was the recipient of a significant decline in short interest during the month of January. As of January 31st, there was short interest totalling 2,129,074 shares, a decline of 49.0% from the January 15th total of 4,174,812 shares. Based on an average trading volume of 19,986,941 shares, the days-to-cover ratio is presently 0.1 days. Currently, 27.7% of the company’s stock are sold short.

NASDAQ MNGA opened at $0.95 on Thursday. The company has a quick ratio of 1.40, a current ratio of 1.97 and a debt-to-equity ratio of 0.04. Magnegas Applied Tchnlgy Sltns has a 12-month low of $0.88 and a 12-month high of $34.40.

Magnegas Applied Tchnlgy Sltns (NASDAQ:MNGA) last posted its earnings results on Wednesday, November 14th. The oil and gas company reported ($0.10) earnings per share (EPS) for the quarter, beating the Zacks’ 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 net margin of 182.04% and a negative return on equity of 98.33%. Sell-side analysts anticipate that Magnegas Applied Tchnlgy Sltns will post -10.4 EPS for the current year.

Separately, HC Wainwright reiterated a “buy” rating and issued a $1.50 target price on shares of Magnegas Applied Tchnlgy Sltns in a research note on Thursday, November 15th.

A hedge fund recently bought a new stake in Magnegas Applied Tchnlgy Sltns stock. Geode Capital Management LLC acquired a new position in Magnegas Applied Tchnlgy Sltns Inc (NASDAQ:MNGA) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 920,715 shares of the oil and gas company’s stock, valued at approximately $227,000. Geode Capital Management LLC owned about 11.87% of Magnegas Applied Tchnlgy Sltns at the end of the most recent quarter. 14.76% of the stock is owned by institutional investors.

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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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