Fuel Tech, Inc. (NASDAQ:FTEK – Free Report) CEO Vincent J. Arnone bought 20,000 shares of the company’s stock on Friday, August 9. The shares were bought at an average price of $1.04 per share, for a total transaction of $20,800.00. Following the acquisition, the CEO now owns 440,513 shares of the company’s stock, valued at $458,133.52. The transaction was disclosed in a legal filing with the SEC, which is available through this link.
Fuel Tech shares rise 1.0%
Fuel Tech stock opened at $1.00 on Monday. Fuel Tech, Inc. has a 52-week low of $0.91 and a 52-week high of $1.34. The company has a market cap of $30.39 million, a P/E ratio of -33.33 and a beta of 4.16. The company has a 50-day moving average of $1.05 and a 200-day moving average of $1.12.
Fuel Tech (NASDAQ:FTEK – Free Report) last announced its earnings results on Tuesday, August 6. The industrial products company reported -$0.01 earnings per share (EPS) for the quarter, beating the consensus estimate of -$0.02 by $0.01. Fuel Tech had a negative net margin of 3.41% and a negative return on equity of 1.92%. The company had revenue of $7.04 million for the quarter, compared to analyst estimates of $5.81 million. During the same period last year, the company reported earnings per share of -$0.03. Research analysts expect that Fuel Tech, Inc. will report earnings per share of -$0.02 for the current fiscal year.
Wall Street analysts comment
A number of research analysts have recently commented on FTEK shares. StockNews.com began coverage on shares of Fuel Tech in a research report on Tuesday, August 6th. They gave the stock a “hold” rating. HC Wainwright reiterated a “buy” rating and issued a $4.00 price target on shares of Fuel Tech in a report on Thursday, May 9th.
Check out our latest analysis on FTEK
Institutional investors comment on fuel technology
Hedge funds have recently changed their holdings in the company. Migdal Insurance & Financial Holdings Ltd. acquired a new position in Fuel Tech in the fourth quarter valued at $26,000. Marquette Asset Management LLC increased its holdings in shares of 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 valued at $171,000 after buying an additional 18,133 shares during the same period. Essex Investment Management Co. LLC increased its holdings 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 during the same period. Acuitas Investments LLC increased its holdings 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 purchasing an additional 221,932 shares in the last quarter. Finally, Renaissance Technologies LLC increased its stake in shares of Fuel Tech by 5.4% in 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 same period. Institutional investors own 20.94% of the company’s stock.
Fuel Tech Company Profile
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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 business units. The Air Pollution Control Technology business unit offers technologies to reduce nitrogen oxide (NOx) emissions in flue gases from boilers, incinerators, furnaces, and other stationary combustion sources; NOxOUT and HERT selective non-catalytic reduction systems; selective catalytic reduction systems consisting of ammonia injection grids and staged directivity grid systems; I-NOx systems; ESP processes and services; ULTRA technology; and flue gas treatment systems.
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