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

Fuel Tech, Inc. (NASDAQ:FTEK) CEO Vincent J. Arnone purchased 20,000 shares of the firm’s stock in a transaction that occurred on Friday, August 9th. The shares were bought at an average cost of $1.04 per share, with a total value of $20,800.00. Following the completion of the acquisition, the chief executive officer now owns 440,513 shares of the company’s stock, valued at $458,133.52. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Fuel Tech Price Performance

Shares of NASDAQ FTEK opened at $1.02 on Wednesday. The stock has a fifty day moving average price of $1.05 and a 200 day moving average price of $1.12. The company has a market cap of $30.99 million, a PE ratio of -34.00 and a beta of 4.16. Fuel Tech, Inc. has a 1-year low of $0.91 and a 1-year high of $1.34.

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, topping the consensus estimate of ($0.02) by $0.01. The firm had revenue of $7.04 million during 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 quarter in the prior year, the business posted ($0.03) earnings per share. Analysts anticipate that Fuel Tech, Inc. will post -0.02 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Migdal Insurance & Financial Holdings Ltd. purchased a new position in Fuel Tech in the fourth quarter worth $26,000. Marquette Asset Management LLC raised its position in Fuel Tech by 14.7% in the first 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 in the last quarter. Essex Investment Management Co. LLC increased its position in shares of Fuel Tech by 42.6% in the first 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 in the last quarter. Acuitas Investments LLC increased its position in shares of Fuel Tech by 36.9% in the fourth 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 in the last quarter. Finally, Renaissance Technologies LLC increased its position in shares of Fuel Tech by 5.4% in the second quarter. Renaissance Technologies LLC now owns 874,618 shares of the industrial products company’s stock valued at $936,000 after buying an additional 44,512 shares in the last quarter. Hedge funds and other institutional investors own 20.94% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently weighed in on FTEK. StockNews.com began coverage on Fuel Tech in a report on Wednesday. They set a “hold” rating for the company. HC Wainwright reaffirmed a “buy” rating and set a $4.00 price target on shares of Fuel Tech in a report on Thursday, May 9th.

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.