$3.13 Million in Sales Expected for Magnegas Applied Tchnlgy Sltns Inc (MNGA) This Quarter

Wall Street analysts forecast that Magnegas Applied Tchnlgy Sltns Inc (NASDAQ:MNGA) will announce sales of $3.13 million for the current quarter, Zacks reports. Two analysts have issued estimates for Magnegas Applied Tchnlgy Sltns’ earnings. The lowest sales estimate is $2.85 million and the highest is $3.40 million. Magnegas Applied Tchnlgy Sltns reported sales of $880,000.00 during the same quarter last year, which indicates a positive year-over-year growth rate of 255.7%. The firm is scheduled to announce its next quarterly earnings report before the market opens on Wednesday, November 14th.

According to Zacks, analysts expect that Magnegas Applied Tchnlgy Sltns will report full-year sales of $10.54 million for the current fiscal year, with estimates ranging from $9.96 million to $11.20 million. For the next fiscal year, analysts forecast that the firm will post sales of $18.03 million, with estimates ranging from $15.00 million to $22.30 million. Zacks’ sales averages are an average based on a survey of research firms that cover Magnegas Applied Tchnlgy Sltns.

Magnegas Applied Tchnlgy Sltns (NASDAQ:MNGA) last issued its quarterly earnings data on Tuesday, August 14th. The oil and gas company reported ($0.23) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.13) by ($0.10). The company had revenue of $2.91 million for the quarter, compared to analyst estimates of $1.93 million. Magnegas Applied Tchnlgy Sltns had a negative return on equity of 115.89% and a negative net margin of 226.28%.

Separately, HC Wainwright restated a “buy” rating and set a $6.00 price objective on shares of Magnegas Applied Tchnlgy Sltns in a research note on Wednesday, August 15th.

Shares of MNGA opened at $0.28 on Friday. Magnegas Applied Tchnlgy Sltns has a 12 month low of $0.13 and a 12 month high of $7.14. The company has a quick ratio of 0.79, a current ratio of 1.36 and a debt-to-equity ratio of 0.06.

About Magnegas Applied Tchnlgy Sltns

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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