Magnegas Applied Tchnlgy Sltns Inc (NASDAQ:MNGA) shares shot up 11.1% on Monday . The stock traded as high as $0.31 and last traded at $0.30. 17,672,082 shares changed hands during mid-day trading, an increase of 190% from the average session volume of 6,085,283 shares. The stock had previously closed at $0.27.

Separately, HC Wainwright reissued a “buy” rating and issued a $1.50 price objective on shares of Magnegas Applied Tchnlgy Sltns in a research report on Thursday.

The company has a quick ratio of 1.40, a current ratio of 1.97 and a debt-to-equity ratio of 0.04.

Magnegas Applied Tchnlgy Sltns (NASDAQ:MNGA) last posted its quarterly earnings data on Wednesday, November 14th. The oil and gas company reported ($0.10) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.12) by $0.02. Magnegas Applied Tchnlgy Sltns had a negative return on equity of 98.33% and a negative net margin of 182.04%. The firm had revenue of $2.60 million during the quarter, compared to analyst estimates of $3.13 million. Analysts predict that Magnegas Applied Tchnlgy Sltns Inc will post -0.68 EPS for the current fiscal year.

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Magnegas Applied Tchnlgy Sltns Company Profile (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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