Vincent Arnone Acquires 10,000 Shares of Fuel Tech (NASDAQ:FTEK) Stock

Fuel Tech, Inc. (NASDAQ:FTEK) CEO Vincent Arnone purchased 10,000 shares of the company’s stock in a transaction dated Friday, March 6th. The shares were bought at an average cost of $1.24 per share, for a total transaction of $12,400.00. Following the acquisition, the chief executive officer owned 549,513 shares in the company, valued at approximately $681,396.12. The trade was a 1.85% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Fuel Tech Stock Up 4.9%

Shares of FTEK stock opened at $1.29 on Wednesday. The company has a 50 day moving average price of $1.44 and a 200-day moving average price of $2.10. Fuel Tech, Inc. has a 52 week low of $0.91 and a 52 week high of $3.65. The firm has a market capitalization of $39.62 million, a PE ratio of -18.43 and a beta of 1.05.

Fuel Tech (NASDAQ:FTEK) last issued 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). Fuel Tech had a negative net margin of 8.71% and a negative return on equity of 5.70%. The company had revenue of $7.25 million for the quarter, compared to the consensus estimate of $7.47 million. Analysts anticipate that Fuel Tech, Inc. will post -0.03 earnings per share for the current year.

Institutional Trading of Fuel Tech

Several institutional investors and hedge funds have recently modified their holdings of FTEK. Geode Capital Management LLC lifted its stake in shares of Fuel Tech by 3.6% during the 2nd 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 in the last quarter. Vanguard Group Inc. increased its stake in Fuel Tech by 7.7% in the 3rd quarter. Vanguard Group Inc. now owns 1,013,864 shares of the industrial products company’s stock worth $3,042,000 after buying an additional 72,895 shares in the last quarter. Beartown Capital Management LLC purchased a new stake in Fuel Tech in the 4th quarter worth $250,000. State Street Corp raised its holdings in Fuel Tech by 7.1% during the fourth quarter. State Street Corp now owns 121,846 shares of the industrial products company’s stock valued at $190,000 after acquiring an additional 8,100 shares during the period. Finally, Dimensional Fund Advisors LP bought a new stake in Fuel Tech during the third quarter valued at about $163,000. 20.94% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have recently issued reports on FTEK. Wall Street Zen downgraded Fuel Tech from a “buy” rating to a “hold” rating in a research note on Saturday. Weiss Ratings reiterated a “sell (d-)” rating on shares of Fuel Tech in a research report on Wednesday, January 28th. One analyst has rated the stock with a Sell rating, According to MarketBeat.com, Fuel Tech currently has an average rating of “Sell”.

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.