Vincent J. Arnone Buys 15,000 Shares of Fuel Tech, Inc. (NASDAQ:FTEK) Stock

Fuel Tech, Inc. (NASDAQ:FTEK) CEO Vincent J. Arnone bought 15,000 shares of the business’s stock in a transaction dated Friday, March 28th. The shares were purchased at an average cost of $1.05 per share, with a total value of $15,750.00. Following the completion of the acquisition, the chief executive officer now owns 485,879 shares in the company, valued at approximately $510,172.95. This represents a 3.19 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Fuel Tech Stock Down 0.5 %

FTEK opened at $1.00 on Thursday. The firm’s fifty day simple moving average is $0.99 and its two-hundred day simple moving average is $1.02. Fuel Tech, Inc. has a 52-week low of $0.87 and a 52-week high of $1.34. The company has a market cap of $30.71 million, a price-to-earnings ratio of -50.00 and a beta of 4.25.

Fuel Tech (NASDAQ:FTEK) last posted its quarterly earnings data on Tuesday, March 4th. The industrial products company reported ($0.06) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.03) by ($0.03). Fuel Tech had a negative return on equity of 1.37% and a negative net margin of 2.29%. The firm had revenue of $5.28 million during the quarter, compared to analyst estimates of $5.63 million. During the same quarter in the previous year, the firm posted ($0.02) earnings per share. On average, research analysts forecast that Fuel Tech, Inc. will post -0.03 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the company. Millennium Management LLC boosted its stake in Fuel Tech by 70.1% during the 4th quarter. Millennium Management LLC now owns 58,571 shares of the industrial products company’s stock worth $62,000 after purchasing an additional 24,129 shares during the last quarter. Virtu Financial LLC purchased a new position in shares of Fuel Tech in the fourth quarter worth about $26,000. XTX Topco Ltd acquired a new position in Fuel Tech during the fourth quarter worth about $27,000. Renaissance Technologies LLC grew its stake in Fuel Tech by 15.3% during the 4th quarter. Renaissance Technologies LLC now owns 1,039,609 shares of the industrial products company’s stock valued at $1,092,000 after acquiring an additional 138,169 shares in the last quarter. Finally, Peapod Lane Capital LLC acquired a new stake in Fuel Tech in the 4th quarter valued at about $1,027,000. 20.94% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

FTEK has been the topic of several analyst reports. HC Wainwright restated a “buy” rating and set a $4.00 price target on shares of Fuel Tech in a research report on Thursday, March 6th. StockNews.com started coverage on Fuel Tech in a research report on Thursday. They set a “hold” rating on the stock.

About Fuel Tech

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.