Stock Monitor: Aegean Marine Petroleum Network Post Earnings Reporting
LONDON, UK / ACCESSWIRE / March 26, 2018 / Active-Investors.com has just released a free research report on MagneGas Corp. (NASDAQ: MNGA). If you want access to this report all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/?symbol=MNGA as the Company's latest news hit the wire. On March 22, 2018, the Company, which is a leading technology firm that currently caters the renewable resources and environmental solutions industries, announced that it made a non-refundable deposit of $1.0 million in the form of proceeds towards the acquisition of Trico Welding Supplies, Inc. ("Trico"). Trico is currently a $5.5 million revenue industrial gas and welding supply distributor, with two locations in California. MagneGas and Trico expect the transaction to close within 3 to 4 business days, subject to unforeseen delays. MagneGas further added that the acquisition would enable it to double its Annualized Revenue Run Rate to about $14 million. Register today and get access to over 1000 Free Research Reports by joining our site below:
Active-Investors.com is currently working on the research report for Aegean Marine Petroleum Network Inc. (NYSE: ANW), which also belongs to the Basic Materials sector as the Company MagneGas. Do not miss out and become a member today for free to access this upcoming report at:
Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, MagneGas most recent news is on our radar and our team decided to put out a fantastic report on the company that is now available for free below:
Magnegas viewed the purchase of Trico as a critical step under its acquisition plans. This agreement follows the Company's expansion strategy where it emphasized the acceleration of its growth plans in the California and Texas markets. The Company further added that the addition of an excellent sales team at Trico would be a key milestone in its expansion in northern California. MagneGas stated that it was already working through the logistics to establish a production facility in the area, where it expected MagneGas2®, its clean burning technology, to be a major competitive advantage in California, where renewable energy solutions are well-received, according to the release.
MagneGas stated that it owned a patented process that converts various renewables and liquid waste into fuels. The fuels could be used as an alternative to natural gas for metal cutting. The Company's testing showed that the metal cutting fuel, MagneGas2®, was faster, cleaner, and far more productive than the other available alternatives on the market. The Company currently sells MagneGas2® in the metalworking market as a replacement of acetylene.
The agreement, according to MagneGas, allowed the Company to have greater buying power for products, thereby improving margins and enabling it to pursue larger national accounts. The Company added that it elevated its revenue per share by over 65% from about $0.85, after the Green Arc acquisition, to an estimated $1.40, once the acquisition stood completed.
Company Growth Prospects
On March 19, 2018, the Company stated that it completed the first bulk gas implementation project in Florida for a customer in the high-end fabrication business serving military and government applications. The project involved a multi-year industrial bulk gas purchase contract with one of the Company's largest customers in the Florida state. The contract, according to the Company, provided significant revenue, visibility for multiple years, with one of its largest customers in Florida. Moreover, the nature of the supply agreement created a protective layer of customer commitment and loyalty that ensured that the Company was able to retain and expand one of its most important client relationships.
Stock Performance Snapshot
March 23, 2018 - At Friday's closing bell, MagneGas' stock fell 3.88%, ending the trading session at $0.99.
Volume traded for the day: 939.52 thousand shares.
After last Friday's close, MagneGas' market cap was at $1.60 million.
The stock is part of the Basic Materials sector, categorized under the Major Integrated Oil & Gas industry.
Active-Investors (A-I) produces regular sponsored and non-sponsored reports, articles, stock market blogs, and popular investment newsletters covering equities listed on NYSE and NASDAQ and Canadian stocks. A-I has two distinct and independent departments. One department produces non-sponsored analyst certified content generally in the form of press releases, articles and reports covering equities listed on NYSE and NASDAQ and the other produces sponsored content (in most cases not reviewed by a registered analyst), which typically consists of compensated investment newsletters, articles and reports covering listed stocks and micro-caps. Such sponsored content is outside the scope of procedures detailed below.
A-I has not been compensated; directly or indirectly; for producing or publishing this document.
PRESS RELEASE PROCEDURES:
The non-sponsored content contained herein has been prepared by a writer (the "Author") and is fact checked and reviewed by a third-party research service company (the "Reviewer") represented by a credentialed financial analyst [for further information on analyst credentials, please email firstname.lastname@example.org. Rohit Tuli, a CFA® charterholder (the "Sponsor"), provides necessary guidance in preparing the document templates. The Reviewer has reviewed and revised the content, as necessary, based on publicly available information which is believed to be reliable. Content is researched, written and reviewed on a reasonable-effort basis. The Reviewer has not performed any independent investigations or forensic audits to validate the information herein. The Reviewer has only independently reviewed the information provided by the Author according to the procedures outlined by A-I. A-I is not entitled to veto or interfere in the application of such procedures by the third-party research service company to the articles, documents or reports, as the case may be. Unless otherwise noted, any content outside of this document has no association with the Author or the Reviewer in any way.
A-I, the Author, and the Reviewer are not responsible for any error which may be occasioned at the time of printing of this document or any error, mistake or shortcoming. No liability is accepted whatsoever for any direct, indirect or consequential loss arising from the use of this document. A-I, the Author, and the Reviewer expressly disclaim any fiduciary responsibility or liability for any consequences, financial or otherwise arising from any reliance placed on the information in this document. Additionally, A-I, the Author, and the Reviewer do not (1) guarantee the accuracy, timeliness, completeness or correct sequencing of the information, or (2) warrant any results from use of the information. The included information is subject to change without notice.
NOT AN OFFERING
This document is not intended as an offering, recommendation, or a solicitation of an offer to buy or sell the securities mentioned or discussed, and is to be used for informational purposes only. Please read all associated disclosures and disclaimers in full before investing. Neither A-I nor any party affiliated with us is a registered investment adviser or broker-dealer with any agency or in any jurisdiction whatsoever. To download our report(s), read our disclosures, or for more information, visit http://active-investors.com/legal-disclaimer/.
For any questions, inquiries, or comments reach out to us directly. If you're a company we are covering and wish to no longer feature on our coverage list contact us via email and/or phone between 09:30 EDT to 16:00 EDT from Monday to Friday at:
Phone number: 73 29 92 6381
Office Address: 6, Jalan Kia Peng, Kuala Lumpur, 50450 Kuala Lumpur, Wilayah Persekutuan Kuala Lumpur, Malaysia
CFA® and Chartered Financial Analyst® are registered trademarks owned by CFA Institute.