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MagneGas Corporation (MNGA) Rating Increased to Hold at Zacks Investment Research

January 12th, 2017 - 0 comments - Filed Under - by Patrick Bannon

MagneGas Corporation logoMagneGas Corporation (NASDAQ:MNGA) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report issued on Tuesday.

According to Zacks, “MagneGas Corporation is an alternative energy company that creates and produces hydrogen-based alternative fuel through the gasification of liquid waste. It produces MagneGas(TM), a natural gas alternative and metal working fuel that can be made from certain industrial, municipal, agricultural and military liquid wastes. The company’s patented Plasma Arc Flow process gasifies liquid waste, creating a hydrogen based fuel for use in metal working, cooking, heating, and for powering bi fuel automobiles. MagneGas Corporation is based in Tarpon Springs, Florida. “

Separately, Rodman & Renshaw reaffirmed a “buy” rating and issued a $3.00 price objective on shares of MagneGas Corporation in a research note on Saturday, January 7th.




MagneGas Corporation (NASDAQ:MNGA) traded up 1.4818% during trading on Tuesday, reaching $0.4794. The company had a trading volume of 145,759 shares. The firm’s 50 day moving average is $0.47 and its 200 day moving average is $0.60. The company’s market capitalization is $25.00 million. MagneGas Corporation has a one year low of $0.40 and a one year high of $1.59.

MagneGas Corporation (NASDAQ:MNGA) last released its quarterly earnings data on Monday, November 14th. The company reported ($0.08) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.05) by $0.03. The business earned $1 million during the quarter. MagneGas Corporation had a negative return on equity of 99.78% and a negative net margin of 417.93%. On average, equities research analysts predict that MagneGas Corporation will post ($0.26) earnings per share for the current year.



In other news, Director Carla Santilli sold 20,000 shares of the company’s stock in a transaction dated Saturday, December 31st. The stock was sold at an average price of $1.64, for a total value of $32,800.00. Following the completion of the transaction, the director now owns 4,212,900 shares of the company’s stock, valued at $6,909,156. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 13.50% of the stock is owned by insiders.

MagneGas Corporation Company Profile

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.
http://www.dailypolitical.com/2017/01/12/magnegas-corporation-mnga-rating-increased-to-hold-at-zacks-investment-research.html


MagneGas Receives Final Progress Payment from Gasification System Sale to Gulf Coast Industrial Gas Company


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SOURCE MagneGas Corporation

Gasification System Completed and Shipped to Louisiana Industrial Gas Company; Final $191,500 Payment Received

TAMPA, Florida, January 12, 2017 /PRNewswire/ --

MagneGas Corporation ("MagneGas" or the "Company") (MNGA) a leading clean technology company in the renewable resources and environmental solutions industries, announced today that it has received the final contracted progress payment and has successfully shipped the Plasma-Arc Gasification system that was previously announced as contracted ("Gasifier Agreement") for sale to Green Arc Supply, LLC of Louisiana ("Green Arc").

Pursuant to the terms of the Gasifier Purchase Agreement, the Company has received a total of $775,000 towards the construction of the system. The final payment of $191,500 was paid after the factory acceptance and the system has shipped to the buyer, Green Arc. The Gasifier Purchase Agreement also calls for royalty payments which amount to $0.02 per cubic foot produced by Green Arc.

Under the terms of the Gasifier Purchase Agreement, Green Arc will have exclusive distribution rights for certain regions of Louisiana and Texas with non-exclusive distribution rights in remaining regions of Louisiana and Texas and all of Arkansas, Mississippi and Oklahoma. Green Arc has the right to expand their exclusivity in those states with the purchase of additional systems. The Company believes that entering into future agreements with Green Arc for the distribution of its products will result in significant capital infusions through additional equipment sales and receipt of royalty payments.

Ermanno Santilli, CEO of MagneGas Corporation stated: "To continue our great start of 2017, we have officially shipped our very first equipment sale to a customer in the United States. This milestone is an indication of our ability to expand the industrial gas business organically through equipment sales and retail expansion. We are very confident that this sale will result in additional equipment sales to this customer and look forward to the revenue impact this relationship will have in 2017 and beyond."

About MagneGas Corporation

MagneGas® Corporation (MNGA) owns a patented process that converts various renewables and liquid wastes into MagneGas fuels. These fuels can be used as an alternative to natural gas or for metal cutting. The Company's testing has shown that its metal cutting fuel "MagneGas2®" is faster, cleaner and more productive than other alternatives on the market. It is also cost effective and safe to use with little changeover costs. The Company currently sells MagneGas2® into the metal working market as a replacement to acetylene.

The Company also sells equipment for the sterilization of bio-contaminated liquid waste for various industrial and agricultural markets. In addition, the Company is developing a variety of ancillary uses for MagneGas® fuels utilizing its high flame temperature for co-combustion of hydrocarbon fuels and other advanced applications. For more information on MagneGas®, please visit the Company's website at http://www.MagneGas.com.

The Company distributes MagneGas2® through Independent Distributors in the U.S and through its wholly owned distributor, Equipment Sales and Services, Inc. ("ESSI"). ESSI has four locations in Florida and distributes MagneGas2®, industrial gases and welding supplies. For more information on ESSI, please visit the company's website at http://www.weldingsupplytampa.com

The MagneGas IR App is now available for free in Apple's App Store for the iPhone or iPad http://bit.ly/AfLYww and at Google Play http://bit.ly/Km2iyk for Android mobile devices.

To be added to the MagneGas investor email list, please email [e-mail] with MNGA in the subject line.

http://www.waff.com/story/34243544/magnegas-receives-final-progress-payment-from-gasification-system-sale-to-gulf-coast-industrial-gas-company