Fuel Tech, Inc. (NASDAQ:FTEK) CEO Acquires $15,750.00 in Stock

Fuel Tech, Inc. (NASDAQ:FTEK) CEO Vincent J. Arnone acquired 15,000 shares of the firm’s stock in a transaction on Friday, March 28th. The stock was acquired at an average cost of $1.05 per share, with a total value of $15,750.00. Following the acquisition, the chief executive officer now owns 485,879 shares of the company’s stock, valued at $510,172.95. This trade represents a 3.19 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Fuel Tech Price Performance

NASDAQ:FTEK opened at $1.01 on Wednesday. The firm has a market capitalization of $30.86 million, a P/E ratio of -50.25 and a beta of 4.25. The business has a 50 day simple moving average of $0.99 and a 200 day simple moving average of $1.02. Fuel Tech, Inc. has a 12-month low of $0.87 and a 12-month high of $1.34.

Fuel Tech (NASDAQ:FTEK) last announced its quarterly earnings results 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 net margin of 2.29% and a negative return on equity of 1.37%. The firm had revenue of $5.28 million for the quarter, compared to analyst estimates of $5.63 million. During the same period last year, the firm posted ($0.02) EPS. Research analysts anticipate that Fuel Tech, Inc. will post -0.03 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

FTEK has been the topic of a number of recent research reports. HC Wainwright restated a “buy” rating and issued a $4.00 price target on shares of Fuel Tech in a research report on Thursday, March 6th. StockNews.com began coverage on shares of Fuel Tech in a research note on Wednesday, March 26th. They set a “hold” rating on the stock.

Institutional Investors Weigh In On Fuel Tech

Several large investors have recently made changes to their positions in the company. Virtu Financial LLC acquired a new position in shares of Fuel Tech during the fourth quarter worth approximately $26,000. XTX Topco Ltd acquired a new position in Fuel Tech during the 4th quarter worth $27,000. Millennium Management LLC grew its stake in shares of Fuel Tech by 70.1% in the fourth 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 in the last quarter. Peapod Lane Capital LLC acquired a new position in shares of Fuel Tech during the fourth quarter valued at $1,027,000. Finally, Renaissance Technologies LLC raised its stake in shares of Fuel Tech by 15.3% during the fourth quarter. Renaissance Technologies LLC now owns 1,039,609 shares of the industrial products company’s stock valued at $1,092,000 after purchasing an additional 138,169 shares in the last quarter. Institutional investors and hedge funds own 20.94% of the company’s 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.