MagneGas Corporation (MNGA) Upgraded by ValuEngine to “Sell”

ValuEngine upgraded shares of MagneGas Corporation (NASDAQ:MNGA) from a strong sell rating to a sell rating in a research note released on Tuesday morning.

Shares of MagneGas Corporation (NASDAQ:MNGA) opened at 0.711 on Tuesday. The company’s market cap is $8.66 million. The company has a 50 day moving average price of $0.56 and a 200 day moving average price of $2.24. MagneGas Corporation has a one year low of $0.40 and a one year high of $8.70.

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A hedge fund recently raised its stake in MagneGas Corporation stock. Virtu KCG Holdings LLC boosted its position in shares of MagneGas Corporation (NASDAQ:MNGA) by 709.9% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 110,468 shares of the oil and gas company’s stock after purchasing an additional 96,829 shares during the period. Virtu KCG Holdings LLC owned about 1.85% of MagneGas Corporation worth $136,000 at the end of the most recent reporting period. 2.43% of the stock is currently owned by institutional investors and hedge funds.

About MagneGas Corporation

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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