Insider Buying: Fuel Tech, Inc. (NASDAQ:FTEK) CEO Purchases 15,000 Shares of Stock

Fuel Tech, Inc. (NASDAQ:FTEK) CEO Vincent J. Arnone bought 15,000 shares of the firm’s stock in a transaction dated Friday, March 28th. The shares were acquired at an average price of $1.05 per share, for a total transaction of $15,750.00. Following the completion of the transaction, 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 acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink.

Fuel Tech Price Performance

Shares of FTEK stock traded down $0.05 during trading hours on Tuesday, hitting $1.01. 46,639 shares of the company’s stock were exchanged, compared to its average volume of 92,085. Fuel Tech, Inc. has a 52 week low of $0.87 and a 52 week high of $1.34. The stock has a market cap of $30.86 million, a price-to-earnings ratio of -50.25 and a beta of 4.25. The stock’s 50-day moving average is $0.99 and its 200-day moving average is $1.02.

Fuel Tech (NASDAQ:FTEK) last issued its quarterly earnings data 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). The company had revenue of $5.28 million for the quarter, compared to the consensus estimate of $5.63 million. Fuel Tech had a negative return on equity of 1.37% and a negative net margin of 2.29%. During the same period in the prior year, the company earned ($0.02) EPS. Equities research analysts forecast that Fuel Tech, Inc. will post -0.03 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on FTEK shares. 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. StockNews.com assumed coverage on shares of Fuel Tech in a research report on Wednesday, March 26th. They issued a “hold” rating on the stock.

Institutional Trading of Fuel Tech

Hedge funds have recently modified their holdings of the stock. Millennium Management LLC increased its position in Fuel Tech by 70.1% in 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 period. Virtu Financial LLC acquired a new stake in shares of Fuel Tech during the fourth quarter worth $26,000. XTX Topco Ltd bought a new stake in Fuel Tech in the fourth quarter valued at about $27,000. Renaissance Technologies LLC lifted its stake in Fuel Tech by 15.3% in the fourth quarter. Renaissance Technologies LLC now owns 1,039,609 shares of the industrial products company’s stock valued at $1,092,000 after buying an additional 138,169 shares during the period. Finally, Peapod Lane Capital LLC acquired a new position in shares of Fuel Tech during the 4th quarter worth about $1,027,000. 20.94% of the stock is owned by institutional investors.

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.