New Opportunity: MagneGas Corporation (NASDAQ: MNGA)
Keep your eyes on MNGA tomorrow morning… we have good reason to put this one on your radar here.
Today’s alert is sitting right at key support with major moving averages playing a big role. This is a Nasdaq stock, and a high-beta play – that means, it moves a lot!
Our last two Nasdaq alerts have busted higher for between 30-40%. Today’s looks every bit as interesting.
MNGA is coming off some major announcements and just reporting a quarter with 43% top line growth. With quarter end coming this week, investors and traders will want to position here ahead of the Company’s Q3 report.
MNGA has reported a number of breaking developments over the past weeks:
- MagneGas2® Chosen by One of Nation’s Largest Recycling and Waste Disposal Companies
- MagneGas2® Fuel Chosen by One of Florida’s Largest Counties as Preferred Metal Cutting Fuel for Emergency Responders
- MagneGas Reports 43% Increase in Revenue for the Second Quarter of 2016
- Fortune 100 Global Auto Company Converts Mid-west Factory to MagneGas2® as Exclusive Metal Working Fuel
Company: MagneGas Corporation
Latest News: http://finance.yahoo.com/q/h?s=MNGA+Headlines
Company Website: http://www.magnegas.com
- MNGA has a small trading float of just 37.85M, which suggests the stock could launch higher on any additional influx of interest.
- MNGA is making real money, with trailing revs already coming in at $2.80M.
- MNGA is starting to see major topline growth, with quarterly y/y revs increasing at 43%.
- MNGA is showing a clear surge in interest, with volume over the last couple weeks tracking 34% above its recent average levels.
- MNGA is resting on key support at the 20-day and 50-day moving averages.
Most recently, this week, on Monday, MNGA announced the following:
MagneGas Completes Purchase of 2,000 Additional Fuel Cylinders to Accommodate Accelerating Demand for MagneGas2®
TAMPA, Florida, September 26, 2016 /PRNewswire/ —
MagneGas Corporation (“MagneGas” or the “Company”) a leading technology company that counts among its inventions a patented process that converts liquid and renewable liquid into MagneGas2® fuel, announced today that it has taken receipt of the final shipment of the previously announced purchase order for 2,000 fuel cylinders.
This purchase was the result of a growing demand for MagneGas2® which has created a customer backlog.
The Company believes the additional demand is a direct result of its sales penetration into key vertical market segments including utilities, demolition companies, first responder markets and major manufacturing companies.
Several existing customers have expanded their use of MagneGas2® into additional facilities. Other large potential customers are currently testing MagneGas2®.
“We have begun to see the end result of our strategy which is to grow our gas distribution business through the use of MagneGas2® as a door opener. We estimate that the industrial gas business grows at approximately a 2% rate. However, our industrial gas segment, which not only includes MagneGas2® but welding supplies and other gases, has increased at an almost 20% rate. We believe this is a direct result of customers’ use of MagneGas2® which we believe is a superior product that leads to further sales of the Company’s products. We look forward to seeing the impact of these new cylinders on revenue in the coming months as we continue to expand nationwide,” commented Ermanno Santilli, CEO of MagneGas Corporation.
MagneGas® Corporation (MNGA) owns a patented process that converts various renewable and waste liquids into hydrogen based fuels. These fuels can be used as a replacement to natural gas or for metal cutting. The Company’s testing has shown the fuels are faster, cleaner and more productive than other alternatives on the market. They are also cost effective and safe to use with little changeover costs. The Company currently sells MagneGas2® into the metal working market as a replacement to acetylene.
The MagneGas2®fuel production systems can be set-up locally using various types of feedstock. The Company believes this flexibility can give them an advantage as fuels can be manufactured on site from raw materials found locally and eliminates the time and expense of shipping to the specific end user location. The Company is planning to sell the equipment or establish joint ventures with third parties to construct these supply facilities.
The Company also sells equipment for the sterilization of bio-contaminated liquid waste for various industrial and agricultural markets.