Insider Buying: Fuel Tech, Inc. (NASDAQ:FTEK) CEO Purchases $20,800.00 in Stock

Fuel Tech, Inc. (NASDAQ:FTEK) CEO Vincent J. Arnone purchased 20,000 shares of the business’s stock in a transaction that occurred on Friday, August 9th. The stock was bought at an average price of $1.04 per share, for a total transaction of $20,800.00. Following the purchase, the chief executive officer now directly owns 440,513 shares in the company, valued at $458,133.52. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink.

Fuel Tech Trading Down 2.0 %

FTEK stock opened at $1.00 on Thursday. The stock has a market capitalization of $30.39 million, a PE ratio of -33.33 and a beta of 4.16. Fuel Tech, Inc. has a 12-month low of $0.91 and a 12-month high of $1.34. The stock’s 50 day simple moving average is $1.04 and its 200 day simple moving average is $1.12.

Fuel Tech (NASDAQ:FTEK) last released its quarterly earnings data on Tuesday, August 6th. The industrial products company reported ($0.01) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.02) by $0.01. The business had revenue of $7.04 million for the quarter, compared to analysts’ expectations of $5.81 million. Fuel Tech had a negative return on equity of 1.92% and a negative net margin of 3.41%. During the same period in the prior year, the firm posted ($0.03) EPS. On average, research analysts predict that Fuel Tech, Inc. will post -0.02 earnings per share for the current year.

Hedge Funds Weigh In On Fuel Tech

Several hedge funds and other institutional investors have recently modified their holdings of FTEK. Migdal Insurance & Financial Holdings Ltd. bought a new position in shares of Fuel Tech during the 4th quarter valued at $26,000. Grace & White Inc. NY lifted its holdings in shares of Fuel Tech by 6.9% during the 4th quarter. Grace & White Inc. NY now owns 1,859,922 shares of the industrial products company’s stock valued at $1,953,000 after buying an additional 120,527 shares during the period. Acuitas Investments LLC lifted its holdings in shares of Fuel Tech by 36.9% during the 4th quarter. Acuitas Investments LLC now owns 822,613 shares of the industrial products company’s stock valued at $864,000 after buying an additional 221,932 shares during the period. Essex Investment Management Co. LLC lifted its holdings in shares of Fuel Tech by 42.6% during the 1st quarter. Essex Investment Management Co. LLC now owns 401,159 shares of the industrial products company’s stock valued at $485,000 after buying an additional 119,763 shares during the period. Finally, Marquette Asset Management LLC raised its holdings in Fuel Tech by 14.7% in the 1st quarter. Marquette Asset Management LLC now owns 141,189 shares of the industrial products company’s stock worth $171,000 after purchasing an additional 18,133 shares during the period. 20.94% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. HC Wainwright restated a “buy” rating and issued a $4.00 price target on shares of Fuel Tech in a research note on Thursday, May 9th. StockNews.com began coverage on Fuel Tech in a research report on Wednesday. They issued a “hold” rating on the stock.

Fuel Tech Company Profile

Fuel Tech, Inc provides boiler optimization, efficiency improvement, and air pollution reduction and control solutions to utility and industrial customers worldwide. The company operates through Air Pollution Control Technology and FUEL CHEM Technology segments. The Air Pollution Control Technology segment offers technologies to reduce nitrogen oxide (NOx) emissions in flue gas from boilers, incinerators, furnaces, and other stationary combustion sources; NOxOUT and HERT selective non-catalytic reduction systems; selective catalytic reduction systems comprising ammonia injection grid, and graduated straightening grid systems; I-NOx systems; ESP Processes and Services; ULTRA technology; and flue gas conditioning systems.