MagneGas Corporation (MNGA) was Initiated by Rodman & Renshaw to “Buy” and the brokerage firm has set the Price Target at $3. Rodman & Renshaw advised their investors in a research report released on Apr 13, 2016.
MagneGas Corporation closed down -0.01 points or -0.98% at $1.01 with 4,95,870 shares getting traded on Monday. Post opening the session at $1.03, the shares hit an intraday low of $0.98 and an intraday high of $1.0436 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.
In a different news, on Apr 8, 2016, Carla Santilli (director) sold 57,760 shares at $1.04 per share price. According to the SEC, on Feb 1, 2016, Luisa Ingargiola (Chief Financial Officer) sold 103,426 shares at $1.25 per share price. On Jun 19, 2015, Christopher Huntington (director) sold 43,668 shares at $1.09 per share price, according to the Form-4 filing with the securities and exchange commission.
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.