MagneGas Corporation (MNGA) Upgraded at ValuEngine

MagneGas Corporation (NASDAQ:MNGA) was upgraded by equities researchers at ValuEngine from a “strong sell” rating to a “sell” rating in a note issued to investors on Tuesday.

MagneGas Corporation (NASDAQ MNGA) traded up 10.920% during trading on Tuesday, reaching $0.711. 638,789 shares of the company’s stock were exchanged. The stock’s 50 day moving average price is $0.56 and its 200 day moving average price is $2.24. MagneGas Corporation has a 52-week low of $0.40 and a 52-week high of $8.70. The firm’s market cap is $8.66 million.

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A hedge fund recently raised its stake in MagneGas Corporation stock. Virtu KCG Holdings LLC boosted its position in shares of MagneGas Corporation (NASDAQ:MNGA) by 709.9% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 110,468 shares of the oil and gas company’s stock after buying an additional 96,829 shares during the period. Virtu KCG Holdings LLC owned approximately 1.85% of MagneGas Corporation worth $136,000 at the end of the most recent quarter. 2.43% of the stock is currently owned by institutional investors and hedge funds.

About MagneGas Corporation

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.

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