Taronis Technologies Inc (fka TRNX)

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Brokerages predict that MagneGas Co. (NASDAQ:MNGA) will announce sales of $3.13 million for the current quarter, according to Zacks. Two analysts have made estimates for MagneGas’ earnings. The lowest sales estimate is $2.85 million and the highest is $3.40 million. MagneGas posted sales of $880,000.00 during the same quarter last year, which would indicate a positive year-over-year growth rate of 255.7%. The company is expected to issue its next quarterly earnings report on Wednesday, November 21st.

On average, analysts expect that MagneGas will report full year sales of $10.54 million for the current financial year, with estimates ranging from $9.96 million to $11.20 million. For the next financial year, analysts expect that the company will post sales of $18.03 million, with estimates ranging from $15.00 million to $22.30 million. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that cover MagneGas.

MagneGas (NASDAQ:MNGA) last posted its earnings results on Tuesday, August 14th. The oil and gas company reported ($0.23) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.13) by ($0.10). The firm had revenue of $2.91 million for the quarter, compared to analysts’ expectations of $1.93 million. MagneGas had a negative return on equity of 115.89% and a negative net margin of 226.28%.

Separately, HC Wainwright reiterated a “buy” rating and set a $6.00 target price on shares of MagneGas in a report on Wednesday, August 15th.

Shares of MagneGas stock traded up $0.05 during trading on Friday, reaching $0.22. 565,352 shares of the stock were exchanged, compared to its average volume of 1,976,957. The company has a current ratio of 1.36, a quick ratio of 0.79 and a debt-to-equity ratio of 0.06. MagneGas has a 1 year low of $0.13 and a 1 year high of $9.30.

MagneGas Company Profile

MagneGas Corporation, an alternative energy company, creates and produces hydrogen based fuel through the gasification of liquid and liquid waste in the United States and internationally. It offers MagneGas2, a hydrogen-based fuel for metal cutting as an alternative to acetylene. The company also provides Plasma Arc Flow refineries, which are machines that produce MagneGas2.

https://www.thelincolnianonline.com/2018/10/02/analysts-expect-magnegas-co-mnga-will-announce-quarterly-sales-of-3-13-million.html

$MNGA