Magnegas Corp (MNGA) Files Form 4 Insider Selling : Carla Santilli Sells 22,900 Shares

Magnegas Corp (MNGA): Carla Santilli , director of Magnegas Corp sold 22,900 shares on May 6, 2016. The Insider selling transaction was reported by the company on May 11, 2016 to the Securities and Exchange Commission. The shares were sold at $1.01 per share for a total value of $23,257.00 , the company said in a SEC Form 4 Filing.

Other Insider transactions have been reported by the company according to SEC Form 4, on May 3, 2016, Carla Santilli (director) sold 26,267 shares at $1.04 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.

Shares of MagneGas Corporation (MNGA) ended Tuesday, May 10, 2016 session in red amid volatile trading. The shares closed down -0.0174 points or -1.76% at $0.9725 with 84,427 shares getting traded. Post opening the session at $0.99, the shares hit an intraday low of $0.9725 and an intraday high of $1.0026 and the price vacillated in this range throughout the day. The company has a market cap of $44 M and the number of outstanding shares has been calculated to be 4,57,49,534 shares. The 52-week high of MagneGas Corporation is $2.5 and the 52-week low is $0.8.

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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