MGLT | Magnolia Solar Missed The Surge On Solar Stocks

Solar stocks have been smoking hot of recent, yet one penny stock, Magnolia Solar Corp. (MGLT), has yet to see any kind of sunshine help heat up its trading activity. Although there was one failed attempt to bring attention to MGLT stock a few weeks ago, financed by StockMister himself, one would think that being a part of the hottest sector would be cause for some kind of attractiveness. With revenues for he first 6 months of 2013 being very respectable, a share structure and story behind the somewhat low float is intriguing enough that a flare of volume could actually pop up, if only for one session.

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Market Cap: 1.73M
Last: 0.0535 ▲ +0.0035 (+7.00%)
Volume: 11,500
Dollar Volume: $583
Open: 0.05
High: 0.0535
Low: 0.05
Trades: 3
Authorized: 75,000,000
Issued and Outstanding: 32,304,702
14-Day Rel Strength: 56.72%
1st Resistance Point: 0.0547
1st Support Level: 0.0512

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On the lecture scene for the most part with their over qualified scientists, Magnolia Solar is interesting because they are developing a new class of thin film nano-engineered solar cell technology which offers the optimum harmony between light and materials for the highest possible efficiency. There is obviously some proof to their efforts since they nearly doubled their cash position from the start of the year as well as their fist 6 months revenues.

Developing thin film, high efficiency solar cells for applications such as power generation for electrical grids as well as for local applications, including lighting, heating, traffic control, irrigation, water distillation, and other residential, agricultural and commercial uses, Magnolia Solar is having a superb 2013 and coming ever so close to actually booking net income. They booked $195,595 in revenues for the 3 months ended June 30, 2013, $543,239 for the 6 months ended, which were increases of 14.38% and 88.80%, respectively, compared to the same periods in 2012 and are fully committed to emerging from the development stage in fiscal 2014.

The history of where some of their money has come from has a pretty heavy-hitting list of groups behind it. They got $1 million from the New York State Energy Research and Development Authority (“NYSERDA”), a contract from the National Aeronautical and Space Administration, aka NASA, for $99,999, 2 contracts from the U.S. Air Force which each came in 2 phases, $99,999 and $750,000, and had another $250,000 thrown at them from the NYSERDA worth $250,000 – and that’s all prior to 2013.

With a goal of increasing their solar cells’ efficiency from the present thin film solar cell efficiency of about 11%-13% to those rivaling efficiencies of crystalline photovoltaic cells in a commercial environment at a cost potentially reaching $0.50 per watt, Magnolia Solar has a hell of a lot of growth in front of it. Considering that Dr. Ashok K. Sood, President and CEO, and Dr. Yash R. Puri, Exec. VP and CFO, each respectively held 8,300,500 shares and 8,100,000 shares of MGLT stock as of March 12, 2013, and another 4,366,751 shares held by 3 5% investors, Alan Donenfeld of Paragon Capital Advisors LLC, Larry Butz of the Daybreak Special Situations Fund Ltd. and Sean Lyons of the Debt Opportunity LLLP, the future would appear to be very bright for MGLT stock.

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About MGLT Stock

Magnolia Solar Corporation, through its wholly owned subsidiary, Magnolia Solar, Inc., is a development stage company focused on developing and commercializing thin film solar cell technologies that employ nanostructured materials and designs.

Click here to view the SEC filings for MGLT.
Click here to view the website for Magnolia Solar.

Last 5 Trading Sessions:

Date Open High Low Last Change % Change Volume
10/21/13 0.0500 0.0535 0.0500 0.0535 +0.0035 +7.00% 11,500
10/18/13 0.0400 0.0535 0.0400 0.0500 +0.0065 +14.94% 470,900
10/17/13 0.0425 0.0435 0.0420 0.0435 unch unch 34,000
10/16/13 0.0445 0.0445 0.0435 0.0435 -0.0015 -3.33% 56,200
10/15/13 0.0494 0.0494 0.0450 0.0450 -0.0020 -4.26% 76,000


Bottom Line:

MGLT stock should be trading much better than it currently is, especially since other solar penny stocks like WEST and SOPW are virtually unstoppable right now. StockMister paid Joe and Fox $10,000 to pump MGLT back on October 14 and less than $2,000 worth of stock was traded which is pretty weird. Someone obviously has a finer on the sell button and needs to make back some money, but if it runs to the 20’s, which it could, the $10,000 would barely be a drop in the bucket.

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