Dallas, Texas 03/31/2014 (FINANCIALSTRENDS) – MagneGas Corporation (NASDAQ:MNGA) for a US-based alternative energy producer is in financial issues, despite the advantage of being a niche player in the hydrogen-based fuel production segment.
The proprietary technology which MagneGas Corporation (NASDAQ:MNGA) holds – plasma arc machine – to process liquid waste and develop alternate energy has helped it holds its own as the prime supplier of source energy for industries. For industries such as the metal working industry, which are dependent on acetylene as the source to run operations, have found the bottled-gas produced by MNGA to offer higher efficacy as well as coverage. It has also created a financial earning route through the licensing and sale of its proprietary technology.
It has also been engaging in developing clientele in the retail as well as enterprise and commercial lines as well. Besides, its wholeseller and retail seller platform allow the company to use the network accordingly. MNGA has always been a creator of assets required for the production of hydrogen- gas. The requirement is for liquid waste and the company has in 2012, added the Tarpon Springs in Florida, measuring 3.5 acre of the region to ensure higher production capabilities.
MagneGas Corporation (NASDAQ:MNGA) holds a market cap of $34.54 million. The company has an average trading volume of 4.23 million. The company has been trading in the price range of $1.33 low and $1.56 high on the infra-day prices.
MagneGas Corporation (NASDAQ:MNGA) the 52 week trading average has been between low of $0.40 and high of $2.45. The company has, at its previous trading session opened on the stock market at prices of $1.55. The EPS for the company is -0.33 and the outstanding shares it holds is 24.58 million. Beta is 2.17.
MagneGas Corporation (NASDAQ:MNGA) contenders in the alternative energy production include Praxair Inc, Air products as well LINDE AG.