Ermanno Santilli Purchases 31,650 Shares of MagneGas Corp. (MNGA) Stock
MagneGas Corp. (NASDAQ:MNGA) CEO Ermanno Santilli bought 31,650 shares of the company’s stock in a transaction dated Monday, November 28th. The shares were acquired at an average cost of $0.47 per share, for a total transaction of $14,875.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.
Shares of MagneGas Corp. (NASDAQ:MNGA) opened at 0.425 on Wednesday. MagneGas Corp. has a one year low of $0.44 and a one year high of $2.50. The company’s market capitalization is $22.16 million. The company has a 50-day moving average price of $0.64 and a 200 day moving average price of $0.67.
MagneGas Corp. (NASDAQ:MNGA) last posted its quarterly earnings results on Monday, November 14th. The company reported ($0.08) EPS for the quarter, missing the consensus estimate of ($0.05) by $0.03. MagneGas Corp. had a negative net margin of 417.93% and a negative return on equity of 99.78%. The company had revenue of $1 million for the quarter. On average, analysts forecast that MagneGas Corp. will post ($0.23) EPS for the current fiscal year.
Separately, Zacks Investment Research lowered MagneGas Corp. from a “hold” rating to a “sell” rating in a research report on Saturday, November 19th.
MagneGas Corp. Company Profile
MagneGas Corporation is an alternative energy company. The Company creates and produces hydrogen-based alternative fuel through the gasification of carbon-rich liquids, including certain liquids and liquid wastes. The Company is also developing the use of fuel for co-combustion with hydrocarbon fuels to reduce emissions.
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