MagneGas Co. (NASDAQ:MNGA) shares hit a new 52-week high and low on Thursday . The company traded as low as $0.38 and last traded at $0.40, with a volume of 12115 shares changing hands. The stock had previously closed at $0.41.
Separately, HC Wainwright set a $6.00 price objective on shares of MagneGas and gave the company a “buy” rating in a research report on Wednesday, May 16th.
The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.07 and a current ratio of 1.64.
MagneGas Corporation, an alternative energy company, creates and produces hydrogen based alternative fuel through the gasification of liquid and liquid waste in the United States and internationally. The company produces gas bottled in cylinders and distributes to the metalworking market as an alternative to acetylene.
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