Magnegas Corp (MNGA) Files Form 4 Insider Selling : Carla Santilli Sells 26,267 Shares

Magnegas Corp (MNGA): Carla Santilli , director of Magnegas Corp sold 26,267 shares on Apr 27, 2016. The Insider selling transaction was reported by the company on May 3, 2016 to the Securities and Exchange Commission. The shares were sold at $1.04 per share for a total value of $27,068.36 , 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 25, 2016, Carla Santilli (director) sold 47,316 shares at $1.06 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: On Monday, May 2, 2016 heightened volatility was witnessed in MagneGas Corporation which led to swings in the share price. The shares opened for trading at $0.98 and hit $1.04 on the upside , eventually ending the session at $1.01, with a gain of 1.00% or 0.01 points. The heightened volatility saw the trading volume jump to 5,00,382 shares. The 52-week high of the share price is $2.5 and the company has a market cap of $46 M . The 52-week low of the share price is at $0.6122.

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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