Fuel Tech, Inc. (NASDAQ:FTEK) CEO Buys $20,400.00 in Stock

Fuel Tech, Inc. (NASDAQ:FTEK) CEO Vincent J. Arnone purchased 20,000 shares of the company’s stock in a transaction on Thursday, September 12th. The stock was acquired at an average price of $1.02 per share, with a total value of $20,400.00. Following the completion of the purchase, the chief executive officer now directly owns 460,513 shares in the company, valued at $469,723.26. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website.

Fuel Tech Price Performance

Shares of FTEK opened at $1.01 on Thursday. The stock has a market capitalization of $30.69 million, a price-to-earnings ratio of -34.33 and a beta of 4.13. Fuel Tech, Inc. has a 1 year low of $0.91 and a 1 year high of $1.34. The business’s 50 day simple moving average is $1.02 and its 200-day simple moving average is $1.10.

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

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Marquette Asset Management LLC increased its stake in Fuel Tech by 14.7% during 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 during the last quarter. Essex Investment Management Co. LLC boosted its holdings in shares of 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 purchasing an additional 119,763 shares during the period. Finally, Renaissance Technologies LLC increased its position in shares of 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 last quarter. Institutional investors own 20.94% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, StockNews.com initiated coverage on Fuel Tech in a research report on Sunday. They set a “hold” rating for the company.

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.