Magnegas Applied Tchnlgy Sltns Inc (NASDAQ:MNGA)’s share price dropped 16% during mid-day trading on Thursday . The stock traded as low as $0.18 and last traded at $0.21. Approximately 75,894,086 shares changed hands during trading, an increase of 358% from the average daily volume of 16,555,756 shares. The stock had previously closed at $0.25.
Separately, HC Wainwright reissued a “buy” rating and set a $1.50 price target on shares of Magnegas Applied Tchnlgy Sltns in a report on Thursday, November 15th.
The company has a current ratio of 1.97, a quick ratio of 1.40 and a debt-to-equity ratio of 0.04.
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About Magnegas Applied Tchnlgy Sltns (NASDAQ:MNGA)
MagneGas Applied Technology Solutions, Inc, an alternative energy company, creates and produces hydrogen based fuel through the gasification of liquid and liquid waste in the United States and internationally. The company offers MagneGas2, a hydrogen-based fuel for metal cutting as an alternative to acetylene.
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