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

Fuel Tech, Inc. (NASDAQ:FTEK) CEO Vincent J. Arnone acquired 20,000 shares of the stock in a transaction dated Thursday, September 12th. The stock was acquired at an average price of $1.02 per share, for a total transaction of $20,400.00. Following 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 Securities & Exchange Commission, which is available at this link.

Fuel Tech Price Performance

NASDAQ:FTEK opened at $1.01 on Thursday. Fuel Tech, Inc. has a one year low of $0.91 and a one year high of $1.34. The business has a fifty day moving average price of $1.02 and a 200-day moving average price of $1.10. The firm has a market capitalization of $30.69 million, a price-to-earnings ratio of -34.33 and a beta of 4.13.

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

Analysts Set New Price Targets

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

Institutional Investors Weigh In On Fuel Tech

A number of institutional investors and hedge funds have recently added to or reduced their stakes in FTEK. Essex Investment Management Co. LLC boosted 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 worth $485,000 after purchasing an additional 119,763 shares during the period. Renaissance Technologies LLC raised 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 period. Finally, Marquette Asset Management LLC lifted its stake in shares of 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 buying an additional 18,133 shares in the last quarter. Institutional investors 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.