Vincent J. Arnone Buys 20,000 Shares of Fuel Tech, Inc. (NASDAQ:FTEK) Stock

Fuel Tech, Inc. (NASDAQ:FTEK) CEO Vincent J. Arnone acquired 20,000 shares of the business’s stock in a transaction that occurred on Thursday, September 12th. The stock was acquired at an average cost of $1.02 per share, with a total value of $20,400.00. Following the completion of the acquisition, the chief executive officer now owns 460,513 shares in the company, valued at approximately $469,723.26. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Fuel Tech Stock Up 2.9 %

Shares of FTEK opened at $1.05 on Wednesday. The business’s 50-day moving average price is $1.02 and its 200-day moving average price is $1.10. The stock has a market cap of $31.90 million, a PE ratio of -34.50 and a beta of 4.13. Fuel Tech, Inc. has a twelve month low of $0.91 and a twelve month high of $1.34.

Fuel Tech (NASDAQ:FTEK) last announced its earnings results on Tuesday, August 6th. The industrial products company reported ($0.01) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.02) by $0.01. The business had revenue of $7.04 million for the quarter, compared to analyst estimates of $5.81 million. Fuel Tech had a negative return on equity of 0.50% and a negative net margin of 0.84%. During the same period in the prior year, the company earned ($0.03) EPS. Analysts expect that Fuel Tech, Inc. will post -0.02 earnings per share for the current fiscal year.

Institutional Trading of Fuel Tech

Hedge funds have recently made changes to their positions in the stock. Essex Investment Management Co. LLC lifted its position in Fuel Tech by 42.6% in the 1st quarter. Essex Investment Management Co. LLC now owns 401,159 shares of the industrial products company’s stock worth $485,000 after buying an additional 119,763 shares during the last quarter. Renaissance Technologies LLC raised its stake in shares of Fuel Tech by 5.4% during the second quarter. Renaissance Technologies LLC now owns 874,618 shares of the industrial products company’s stock worth $936,000 after acquiring an additional 44,512 shares in the last quarter. Finally, Marquette Asset Management LLC lifted its holdings in shares of 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 acquiring an additional 18,133 shares during the last quarter. 20.94% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, StockNews.com initiated coverage on Fuel Tech in a research report on Sunday. They set 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.