November 18, 2016 - By Richard Conner · 0 Comments
Magnegas Corp (NASDAQ:MNGA) institutional sentiment increased to 1.17 in 2016 Q2. Its up 0.17, from 1 in 2016Q1. The ratio is positive, as 10 investment professionals increased or started new positions, while 10 sold and trimmed holdings in Magnegas Corp. The investment professionals in our partner’s database now own: 1.62 million shares, up from 1.51 million shares in 2016Q1. Also, the number of investment professionals holding Magnegas Corp in their top 10 positions was flat from 0 to 0 for the same number . Sold All: 8 Reduced: 2 Increased: 5 New Position: 5.
MagneGas Corporation is an alternative energy company. The company has a market cap of $23.57 million. The Firm creates and produces hydrogen alternative fuel through the gasification of carbon-rich liquids, including certain liquids and liquid wastes. It currently has negative earnings. The Firm is also developing the use of fuel for co-combustion with hydrocarbon fuels to reduce emissions.
It is down 53.77% since April 18, 2016 and is downtrending. It has underperformed by 58.20% the S&P500.
According to Zacks Investment Research, “MagneGas Corporation is an alternative energy company that creates and produces hydrogen-based alternative fuel through the gasification of liquid waste. It produces MagneGas(TM), a natural gas alternative and metal working fuel that can be made from certain industrial, municipal, agricultural and military liquid wastes. The company’s patented Plasma Arc Flow process gasifies liquid waste, creating a hydrogen based fuel for use in metal working, cooking, heating, and for powering bi fuel automobiles. MagneGas Corporation is based in Tarpon Springs, Florida.”
Bank Of America Corp De holds 0% of its portfolio in MagneGas Corporation for 291 shares. Bank Of New York Mellon Corp owns 62,612 shares or 0% of their US portfolio. Moreover, Blackrock Advisors Llc has 0% invested in the company for 3,416 shares. The California-based Blackrock Fund Advisors has invested 0% in the stock. Creative Planning, a Kansas-based fund reported 1,550 shares.#img1#
MagneGas Corporation, incorporated on December 9, 2005, is an alternative energy company. The Firm creates and produces hydrogen alternative fuel through the gasification of carbon-rich liquids, including certain liquids and liquid wastes. The Firm also markets, for sale or licensure, its plasma arc technology for the processing of liquid waste (the Plasma Arc Flow System). The Company’s products include the fuel called MagneGas2 for the metal working industry, the equipment primarily known in the firefighting industry, known as MagneTote, and the machines that produce MagneGas2, known as Plasma Arc Flow refineries. In addition, the Company sells metal cutting fuels and ancillary products through its subsidiary, Equipment Sales and Service, Inc. (ESSI), a Florida corporation. It focuses on market divisions, such as industrial gas sales, equipment sales for liquid waste processing and use of MagneGas2 for the co-combustion of hydro-carbon fuels to reduce emissions. The Firm distributes products through several industrial gas companies in California, Michigan, Florida, Georgia, Indiana, and Pennsylvania. In addition, it has direct retail clients in Florida and New York.
More recent MagneGas Corporation (NASDAQ:MNGA) news were published by: Prnewswire.com which released: “MagneGas Appoints Scott Mahoney as Chief Financial Officer and Secretary” on October 28, 2016. Also Prnewswire.com published the news titled: “MagneGas Corporation Enters Into Definitive Agreements for Financing of $5 …” on October 21, 2014. Prnewswire.com‘s news article titled: “MagneGas Reports 43% Increase in Revenue for the Second Quarter of 2016” with publication date: August 15, 2016 was also an interesting one.
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By Richard Conner