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

Fuel Tech, Inc. (NASDAQ:FTEK) CEO Vincent J. Arnone purchased 15,000 shares of the stock in a transaction that occurred on Friday, March 28th. The stock was bought at an average price 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 $510,172.95. This represents a 3.19 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link.

Fuel Tech Price Performance

NASDAQ:FTEK opened at $1.01 on Wednesday. The firm has a 50-day moving average of $0.99 and a two-hundred day moving average of $1.02. The stock has a market cap of $30.86 million, a P/E ratio of -50.25 and a beta of 4.25. Fuel Tech, Inc. has a 1-year low of $0.87 and a 1-year high of $1.34.

Fuel Tech (NASDAQ:FTEK) last issued its quarterly earnings results on Tuesday, March 4th. The industrial products company reported ($0.06) EPS for the quarter, missing analysts’ consensus estimates 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 business had revenue of $5.28 million during the quarter, compared to analysts’ expectations of $5.63 million. During the same period in the prior year, the company posted ($0.02) EPS. As a group, equities analysts expect that Fuel Tech, Inc. will post -0.03 earnings per share for the current year.

Analysts Set New Price Targets

FTEK has been the subject of a number of recent research reports. StockNews.com assumed coverage on Fuel Tech in a research note on Wednesday, March 26th. They issued a “hold” rating for the company. HC Wainwright reiterated a “buy” rating and set a $4.00 price objective on shares of Fuel Tech in a research note on Thursday, March 6th.

Institutional Trading of Fuel Tech

Hedge funds have recently made changes to their positions in the stock. Peapod Lane Capital LLC acquired a new stake in Fuel Tech in the fourth quarter valued at $1,027,000. Renaissance Technologies LLC grew its holdings 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 worth $1,092,000 after acquiring an additional 138,169 shares in the last quarter. XTX Topco Ltd bought a new stake in shares of Fuel Tech in the 4th quarter worth about $27,000. Virtu Financial LLC acquired a new stake in shares of Fuel Tech in the 4th quarter valued at about $26,000. Finally, Millennium Management LLC lifted its position in shares of Fuel Tech by 70.1% during 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 during the last quarter. Institutional investors and hedge funds own 20.94% of the company’s 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.