Fuel Tech (NASDAQ:FTEK) CEO Vincent Arnone Purchases 10,000 Shares

Fuel Tech, Inc. (NASDAQ:FTEK) CEO Vincent Arnone bought 10,000 shares of the firm’s 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 purchase, the chief executive officer directly owned 549,513 shares of the company’s stock, valued at approximately $681,396.12. This trade represents a 1.85% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Fuel Tech Price Performance

Fuel Tech stock opened at $1.23 on Tuesday. Fuel Tech, Inc. has a 12-month low of $0.91 and a 12-month high of $3.65. The company has a market capitalization of $37.77 million, a price-to-earnings ratio of -17.57 and a beta of 1.05. The firm’s fifty day moving average price is $1.44 and its 200 day moving average price is $2.11.

Fuel Tech (NASDAQ:FTEK) last posted its quarterly earnings data on Tuesday, March 3rd. The industrial products company reported ($0.04) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.01). The firm had revenue of $7.25 million during the quarter, compared to analysts’ expectations of $7.47 million. Fuel Tech had a negative net margin of 8.71% and a negative return on equity of 5.70%. Analysts forecast that Fuel Tech, Inc. will post -0.03 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Fuel Tech

A number of institutional investors have recently modified their holdings of the stock. Renaissance Technologies LLC lifted its position 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 worth $1,791,000 after purchasing an additional 249,089 shares during the last quarter. Vanguard Group Inc. increased its holdings in Fuel Tech by 7.7% in the third quarter. Vanguard Group Inc. now owns 1,013,864 shares of the industrial products company’s stock valued at $3,042,000 after buying an additional 72,895 shares during the last quarter. Geode Capital Management LLC increased its holdings in Fuel Tech by 3.6% in the second quarter. Geode Capital Management LLC now owns 517,658 shares of the industrial products company’s stock valued at $1,305,000 after buying an additional 17,766 shares during the last quarter. Mercuria Capital Strategies LLC acquired a new stake in Fuel Tech during the third quarter valued at approximately $720,000. Finally, XTX Topco Ltd lifted its holdings in Fuel Tech by 218.3% during the 4th quarter. XTX Topco Ltd now owns 178,303 shares of the industrial products company’s stock worth $278,000 after buying an additional 122,291 shares during the last quarter. Institutional investors and hedge funds own 20.94% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. Weiss Ratings restated a “sell (d-)” rating on shares of Fuel Tech in a research note on Wednesday, January 28th. Wall Street Zen lowered Fuel Tech from a “buy” rating to a “hold” rating in a research report on Saturday. One analyst has rated the stock with a Sell rating, According to MarketBeat, the company currently has an average rating of “Sell”.

About Fuel Tech

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.