Market Updates

Basic Materials Stocks in Limelight: MagneGas Corporation (NASDAQ:MNGA), Weatherford International Plc (NYSE:WFT)

MagneGas Corporation (NASDAQ:MNGA) shares went up 20.12% or 0.114 points to reach at $0.679 during the course of session. The stock traded in the range of $0.56 – $0.92 during its most recent trading session. The stock has total market worth of $32.02M and it has total of 45.90M outstanding shares. Relative strength index (RSI-14) for MagneGas Corporation (NASDAQ:MNGA) is at 55.22.

Historically the stock has climbed 17.23% in the past week and plunged -12.96% in the last four weeks, the stock illustrate that its three months performance stands at -36.55% while its year to date performance is at -57.83%. Stock’s price oscillated from $0.53 to $2.50 during past twelve months. The stock is now trading at a distance of 8.09% from SMA-20. The stock is presently trading -11.92% below from its SMA-50. In the current trading session, the stock’s price moved -40.14% below from its SMA-200. If we take a look on its volatility, 16.30 percent was seen in a week and for the month it was 9.55 percent. Stock’s beta value stands at -0.02 and its ATR value is at 0.07.

MagneGas Corporation (NASDAQ:MNGA) a leading technology company that counts among its inventions a patented process that converts renewable and waste liquids into MagneGas2® fuel, announced on July 19, 2016 that the successful results of its recent testing of its developmental wastewater sterilization equipment have moved the Company a step closer to entering the septic water treatment market.

In June and July, the Company deployed its 50 KW mobile sterilization system at a Florida septic wastewater treatment facility. Initial results of the processed samples analyzed by an independent laboratory indicate significant reductions in pathogens. Additionally, these preliminary results are indicating reductions in Nitrogen, Phosphorus, and Potassium. MagneGas will continue to test at this facility during the next few weeks and will be providing a final report to the waste treatment facility, based on the analysis of the independent laboratory, by the end of August.

The Florida Department of Environmental Protection estimates that 1/3 of Florida residents use septic systems for disposal of their wastewater. Septic waste is generally collected and treated by privately owned corporations. The Company believes that the barriers to entering this market will be lower than the municipal government owned sewage treatment facilities.

Weatherford International Plc (NYSE:WFT) shares slipped 3.26% or -0.20 points in order to take the company’s stock at the price of $5.93. Stock’s price oscillated between $5.88 and $6.20 for intra-day trading. Relative strength index (RSI-14) for Weatherford International Plc (NYSE:WFT) is at 54.67. It has total market capitalization of $5.49B.

Historically the stock has climbed 0.34% in the past week and plunged -0.67% in the last four weeks, the stock illustrate that its three months performance stands at -26.06% while its year to date performance is at -29.32%. The stock hit the peak level of one year at $11.49 and touched the minimum level of $4.71. Shares are trading -48.39% off from the 52-week high and +25.90% above from the 52-week bottom level. The stock is now trading at a distance of 3.08% from SMA-20. The stock is presently trading 2.12% above from its SMA-50. In the current trading session, the stock’s price moved -22.13% below from its SMA-200. The company has a Return on Assets of -14.80%. The company currently has a Return on Equity of -45.60% and a Return on Investment of -11.90%.

Weatherford International Plc (NYSE:WFT) on July 18, 2016 announced that the Company’s previously scheduled conference call time has been moved forward due to a significant number of peer companies reporting on the same day. The conference call time will now occur at 7:00 a.m. ET, as compared to the previously scheduled time of 8:30 a.m. ET.  The purpose of the conference call, held on Thursday, July 28, 2016, is to discuss results for the Company’s second quarter ended June 30, 2016.  The call will be open to the public.

Weatherford is one of the largest multinational oilfield service companies providing innovative solutions, technology and services to the oil and gas industry. The Company operates in over 100 countries and has a network of approximately 1,100 locations, including manufacturing, service, research and development, and training facilities and employs approximately 33,100 people.

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