Basic material Losers: McDermott International (NYSE:MDR), BioFuel Energy (NASDAQ:BIOF), MagneGas Corporation (NASDAQ:MNGA), Saratoga Resources (NYSEMKT:SARA)
McDermott International (NYSE:MDR) had its underweight rating reiterated by analysts at Morgan Stanley. They currently have a $6.30 target price on the stock, up from their previous target price of $6.00. The analysts wrote, “MDR announced that it is offering 10MM tangible equity units, each with a stated value of $25, with a greenshoe option of 1.5MM units. McDermott International (NYSE:MDR) shares after opening at $7.53 moved to $7.61 on last trade day and at the end of the day closed at $ 7.03. Company price to sales ratio in past twelve months was calculated as 0.63 and price to cash ratio as 14.06. McDermott International (NYSE:MDR) showed a negative weekly performance of -12.34%.
Trade-Ideas LLC identified BioFuel Energy Corporation (NASDAQ:BIOF) as a “perilous reversal”candidate. BioFuel Energy Corp. (NASDAQ:BIOF) shares fell -19.45% in last trading session and ended the day on $5.88. BIOF return on equity ratio is recorded as -55.70% and its return on assets is -11.40%. BioFuel Energy Corp. (NASDAQ:BIOF) yearly performance is 16.67%.
MagneGas Corporation (Nasdaq:MNGA) announced that on March 31, 2014 it received notice from NASDAQ OMX that it has met the minimum bid requirement to maintain its NASDAQ listing under rule 5550 (a) (2). The notice states that NASDAQ has closed its review and the Company now complies with this requirement. MagneGas Corporation (NASDAQ:MNGA) shares moved down -8.02% in last trading session and was closed at $1.49 while trading in range of $1.40 – $1.60 – MagneGas Corporation (NASDAQ:MNGA) year to date (YTD) performance is 238.64%.
Saratoga Resources Inc (NYSEMKT:SARA) hosted a conference call at 10:30 AM ET on April 1, 2014, to discuss Q4 13 earnings results. Saratoga Resources, Inc. (NYSEMKT:SARA) weekly performance is -9.29%. On last trading day company shares ended up $1.27. Saratoga Resources, Inc. (NYSEMKT:SARA) distance from 50-day simple moving average (SMA50) is 3.66%. Analysts mean target price for the company is $3.75.