Magnegas Applied Tchnlgy Sltns Inc (NASDAQ:MNGA) was the target of a significant drop in short interest in January. As of January 31st, there was short interest totalling 2,129,074 shares, a drop of 49.0% from the January 15th total of 4,174,812 shares. Approximately 27.7% of the company’s stock are sold short. Based on an average daily volume of 19,986,941 shares, the short-interest ratio is currently 0.1 days.
Separately, HC Wainwright reaffirmed a “buy” rating and set a $1.50 target price on shares of Magnegas Applied Tchnlgy Sltns in a research note on Thursday, November 15th.
Shares of NASDAQ MNGA opened at $0.97 on Tuesday. Magnegas Applied Tchnlgy Sltns has a fifty-two week low of $0.88 and a fifty-two week high of $35.00. 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 (NASDAQ:MNGA) last announced its earnings results on Wednesday, November 14th. The oil and gas company reported ($0.10) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.12) by $0.02. Magnegas Applied Tchnlgy Sltns had a negative net margin of 182.04% and a negative return on equity of 98.33%. The business had revenue of $2.60 million during the quarter, compared to the consensus estimate of $3.13 million. Equities research analysts expect that Magnegas Applied Tchnlgy Sltns will post -10.4 EPS for the current fiscal year.
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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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