Magnegas Corp (MNGA) Files Form 4 Insider Selling : Carla Santilli Sells 47,316 Shares

Magnegas Corp (MNGA): Carla Santilli , director of Magnegas Corp sold 47,316 shares on Apr 22, 2016. The Insider selling transaction was reported by the company on Apr 25, 2016 to the Securities and Exchange Commission. The shares were sold at $1.06 per share for a total value of $50,328.12 , the company said in a SEC Form 4 Filing.

Other Insider transactions have been reported by the company according to SEC Form 4, on Apr 21, 2016, Carla Santilli (director) sold 50,100 shares at $1.07 per share price.On Feb 1, 2016, Luisa Ingargiola (Chief Financial Officer) sold 103,426 shares at $1.25 per share price.Also, On Jun 19, 2015, Christopher Huntington (director) sold 43,668 shares at $1.09 per share price.

MagneGas Corporation (MNGA) witnessed a volatile trading activity on Friday Apr 22, 2016 and eventually ended flat at 0.00% or 0 points without letting the bulls or bears take much advantage. The trading began at $1.06 and reached the intraday high at $1.08. The bulls started the profit booking and pushed the shares to intraday low of $1.04. The trading session was marked by a volume range of 2,03,551 shares exchanging hands. The 52-week high of the shares is $2.5 and the 52-week low is $0.6122. The market cap of the company stands at $48 M and there are 4,57,49,534 shares in public circulation.

MagneGas Corporation Money Flow Index Chart

Company has been under the radar of several Street Analysts.MagneGas Corporation is Initiated by Rodman & Renshaw to Buy and the brokerage firm has set the Price Target at $3. The Rating was issued on Apr 13, 2016.

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 has two products: a fuel called MagneGas and the machines that produce that gas known as Plasma Arc Flow System. It has developed a process which transforms various types of liquid waste through a plasma arc machine. The Company produces gas bottled in cylinders for the purpose of distribution to the metalworking market as an alternative to acetylene. The Company has retail and wholesale platforms to sell its fuel for use in the metalworking and manufacturing industries. The Company produces fuel for the metalworking fuel market. It distributes products through several industrial gas companies in California Michigan Florida Georgia Indiana and Pennsylvania. In addition it has direct retail customers in Florida and New York.

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