Fuel Tech (NASDAQ:FTEK) CEO Buys $12,400.00 in Stock

Fuel Tech, Inc. (NASDAQ:FTEK) CEO Vincent Arnone purchased 10,000 shares of the stock in a transaction dated Friday, March 6th. The stock was purchased at an average price of $1.24 per share, with a total value of $12,400.00. Following the completion of the acquisition, the chief executive officer directly owned 549,513 shares in the company, valued at approximately $681,396.12. The trade was a 1.85% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Fuel Tech Stock Performance

FTEK remained flat at $1.23 during trading hours on Monday. The company had a trading volume of 647,704 shares, compared to its average volume of 196,055. The firm has a market capitalization of $37.77 million, a PE ratio of -17.57 and a beta of 1.05. The stock has a 50 day simple moving average of $1.45 and a 200-day simple moving average of $2.12. Fuel Tech, Inc. has a 52-week low of $0.91 and a 52-week high of $3.65.

Fuel Tech (NASDAQ:FTEK) last released its earnings results on Tuesday, March 3rd. The industrial products company reported ($0.04) earnings per share for the quarter, missing the consensus estimate of ($0.03) by ($0.01). Fuel Tech had a negative net margin of 8.71% and a negative return on equity of 5.70%. The business had revenue of $7.25 million for the quarter, compared to the consensus estimate of $7.47 million. As a group, equities research analysts anticipate that Fuel Tech, Inc. will post -0.03 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

FTEK has been the subject of several recent research reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Fuel Tech in a report on Wednesday, January 28th. Wall Street Zen downgraded Fuel Tech from a “buy” rating to a “hold” rating in a report on Saturday. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the company presently has an average rating of “Sell”.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of FTEK. Renaissance Technologies LLC raised its holdings in shares of Fuel Tech by 27.7% during the fourth quarter. Renaissance Technologies LLC now owns 1,147,995 shares of the industrial products company’s stock valued at $1,791,000 after buying an additional 249,089 shares during the last quarter. Mercuria Capital Strategies LLC bought a new position in Fuel Tech in the 3rd quarter worth approximately $720,000. Beartown Capital Management LLC bought a new position in Fuel Tech in the 4th quarter worth approximately $250,000. XTX Topco Ltd increased its position in Fuel Tech by 218.3% in the 4th quarter. XTX Topco Ltd now owns 178,303 shares of the industrial products company’s stock valued at $278,000 after acquiring an additional 122,291 shares during the period. Finally, Marshall Wace LLP acquired a new stake in Fuel Tech in the 4th quarter valued at approximately $126,000. Institutional investors own 20.94% of the company’s stock.

Fuel Tech Company Profile

Fuel Tech, Inc (NASDAQ: FTEK) is a specialty technology and engineering company focused on developing and supplying clean air solutions for the power generation and industrial markets. The company designs, manufactures and markets proprietary chemical reagents and process control systems that help customers reduce emissions of nitrogen oxides (NOx), mercury and other air pollutants. Its technology platform combines advanced process modeling, plant optimization software and field testing services to help utilities and industrial facilities comply with environmental regulations and improve operational efficiency.

Fuel Tech’s core product lines include selective catalytic reduction (SCR) optimization systems, activated carbon injection solutions for mercury capture, and sorbent enhancement additives for flue gas desulfurization processes.