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Fuel Tech , Inc. (NASDAQ:FTEK) President and CEO Vincent J. Arnone recently acquired 15,000 shares of the company’s common stock, according to a recent SEC filing. The shares were purchased on March 28 at a price of $1.05 per share, amounting to a total transaction value of $15,750. The micro-cap company, currently valued at $31 million, trades at an attractive Price-to-Book ratio of 0.74, according to InvestingPro data. Following this acquisition, Arnone now holds 485,879 shares directly. This move reflects a continued investment in the company by its executive leadership. With a beta of 4.24 and current price suggesting undervaluation based on InvestingPro’s Fair Value model, investors can access detailed analysis and 8 additional ProTips through the comprehensive Pro Research Report.
In other recent news, Flotek Industries reported fourth-quarter earnings that surpassed expectations, with adjusted earnings per share reaching $0.14, doubling from $0.07 in the same quarter last year. The company’s revenue increased by 20% year-over-year to $50.76 million, marking the highest level in five years due to a 21% rise in external customer revenue. Flotek’s gross profit for the quarter rose by 30% year-over-year to $12.3 million, while net income more than doubled to $4.4 million. The company’s adjusted EBITDA also showed significant growth, increasing by 78% to $7.0 million compared to the previous year. For the full year 2024, Flotek reported a net income of $10.5 million, a substantial improvement from the previous year’s loss. In other developments, Fuel Tech, Inc. announced the acquisition of approximately $1.4 million in air pollution control orders from clients in the US and Europe, along with an additional $2.6 million in orders from the US and Japan. The orders include systems designed to reduce nitrogen oxide levels and enhance energy efficiency. Fuel Tech’s President and CEO, Vincent J. Arnone, expressed satisfaction with these contracts, which are part of the company’s near-term contract wins.
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