Insider Buying: Fuel Tech, Inc. (NASDAQ:FTEK) CEO Acquires 20,000 Shares of Stock

Fuel Tech, Inc. (NASDAQ:FTEK) CEO Vincent J. Arnone bought 20,000 shares of the stock in a transaction on Friday, August 9th. The stock was purchased 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 of the company’s stock, valued at $458,133.52. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website.

Fuel Tech Stock Performance

FTEK opened at $1.02 on Wednesday. The company has a market cap of $30.99 million, a PE ratio of -34.00 and a beta of 4.16. The stock has a 50-day moving average of $1.05 and a 200-day moving average of $1.12. Fuel Tech, Inc. has a 52-week low of $0.91 and a 52-week 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, beating the consensus estimate of ($0.02) by $0.01. Fuel Tech had a negative return on equity of 1.92% and a negative net margin of 3.41%. The firm had revenue of $7.04 million during the quarter, compared to the consensus estimate of $5.81 million. During the same quarter in the prior year, the company earned ($0.03) EPS. On average, research analysts predict that Fuel Tech, Inc. will post -0.02 earnings per share for the current year.

Institutional Trading of Fuel Tech

Hedge funds have recently added to or reduced their stakes in the business. Migdal Insurance & Financial Holdings Ltd. bought a new stake in Fuel Tech during the 4th quarter valued at approximately $26,000. Marquette Asset Management LLC boosted its stake in Fuel Tech by 14.7% during the 1st quarter. Marquette Asset Management LLC now owns 141,189 shares of the industrial products company’s stock valued at $171,000 after purchasing an additional 18,133 shares during the period. Essex Investment Management Co. LLC boosted its stake in 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 purchasing an additional 119,763 shares during the period. Acuitas Investments LLC boosted its stake in 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 purchasing an additional 221,932 shares during the period. Finally, Renaissance Technologies LLC boosted its stake in Fuel Tech by 5.4% during the 2nd quarter. Renaissance Technologies LLC now owns 874,618 shares of the industrial products company’s stock valued at $936,000 after purchasing an additional 44,512 shares during the period. Institutional investors own 20.94% of the company’s stock.

Analyst Upgrades and Downgrades

FTEK has been the subject of several recent analyst reports. HC Wainwright reiterated a “buy” rating and set a $4.00 price target on shares of Fuel Tech in a research note on Thursday, May 9th. StockNews.com initiated coverage on Fuel Tech in a research note on Wednesday. They set a “hold” rating for the company.

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.