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Mechanical Technology (NASDAQ:MKTY) Director David C. Michaels purchased 2,000 shares of the stock on the open market in a transaction dated Wednesday, May 28th. The stock was purchased at an average cost of $1.15 per share, with a total value of $2,300.00. Following the purchase, the director now directly owns 14,200 shares in the company, valued at approximately $16,330. The purchase was disclosed in a document filed with the SEC, which is available at this link.

Shares of Mechanical Technology (NASDAQ:MKTY) traded down 5.65% during mid-day trading on Friday, hitting $1.17. 2,135 shares of the company’s stock traded hands. Mechanical Technology has a 52 week low of $0.40 and a 52 week high of $1.83. The stock’s 50-day moving average is $1.32 and its 200-day moving average is $1.10. The company has a market cap of $6.1 million and a P/E ratio of 2.09.

Mechanical Technology, Incorporated (NASDAQ:MKTY) operates in two segments: the Test and Measurement Instrumentation segment, which is conducted through MTI Instruments, Inc (MTI Instruments), a wholly-owned subsidiary, and the New Energy segment, which is conducted through MTI MicroFuel Cells, Inc (MTI Micro), a variable interest entity (VIE) as of December 31, 2011.

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