Fuel Tech, Inc. (NASDAQ:FTEK - Get Free Report) CEO Vincent Arnone purchased 10,000 shares of the company's stock in a transaction that occurred on Friday, March 6th. The shares were purchased at an average cost of $1.24 per share, for a total transaction of $12,400.00. Following the completion of the transaction, the chief executive officer owned 549,513 shares in the company, valued at approximately $681,396.12. This represents a 1.85% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.
Fuel Tech Price Performance
Shares of FTEK opened at $1.23 on Tuesday. The stock has a market capitalization of $37.77 million, a PE ratio of -17.57 and a beta of 1.05. The business's fifty day moving average price is $1.44 and its 200 day moving average price is $2.11. Fuel Tech, Inc. has a 12-month low of $0.91 and a 12-month high of $3.65.
Fuel Tech (NASDAQ:FTEK - Get Free Report) 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). The business had revenue of $7.25 million for the quarter, compared to the consensus estimate of $7.47 million. Fuel Tech had a negative net margin of 8.71% and a negative return on equity of 5.70%. As a group, research analysts anticipate that Fuel Tech, Inc. will post -0.03 earnings per share for the current fiscal year.
Analyst Ratings Changes
FTEK has been the subject of a number of recent research reports. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Fuel Tech in a research report on Wednesday, January 28th. Wall Street Zen downgraded Fuel Tech from a "buy" rating to a "hold" rating in a research note on Saturday. One investment analyst has rated the stock with a Sell rating, According to MarketBeat, Fuel Tech presently has an average rating of "Sell".
View Our Latest Analysis on Fuel Tech
Institutional Investors Weigh In On Fuel Tech
A number of hedge funds have recently added to or reduced their stakes in the stock. Group One Trading LLC boosted its holdings in shares of Fuel Tech by 26.1% during the fourth quarter. Group One Trading LLC now owns 42,509 shares of the industrial products company's stock valued at $66,000 after acquiring an additional 8,803 shares during the period. Advisory Services Network LLC increased its holdings in shares of Fuel Tech by 44.2% in the 3rd quarter. Advisory Services Network LLC now owns 21,627 shares of the industrial products company's stock worth $65,000 after acquiring an additional 6,627 shares during the period. NewEdge Advisors LLC lifted its position in Fuel Tech by 35,206.0% in the 3rd quarter. NewEdge Advisors LLC now owns 17,653 shares of the industrial products company's stock valued at $53,000 after purchasing an additional 17,603 shares during the last quarter. Integrated Wealth Concepts LLC bought a new stake in Fuel Tech in the 3rd quarter valued at about $105,000. Finally, Boothbay Fund Management LLC acquired a new position in Fuel Tech during the 3rd quarter valued at about $124,000. 20.94% of the stock is currently owned by institutional investors.
About Fuel Tech
(
Get Free Report)
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.
See Also
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
