Insider Buying: Kevin G. Lynch Purchases 8,200 Shares of Mechanical Technology Stock (MKTY)
Mechanical Technology (NASDAQ:MKTY) CEO Kevin G. Lynch purchased 8,200 shares of the company’s stock on the open market in a transaction dated Thursday, August 14th. The stock was purchased at an average cost of $1.05 per share, with a total value of $8,610.00. Following the acquisition, the chief executive officer now directly owns 150,788 shares of the company’s stock, valued at approximately $158,327. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
Shares of Mechanical Technology (NASDAQ:MKTY) traded down 3.23% during mid-day trading on Friday, hitting $1.08. The stock had a trading volume of 6,145 shares. Mechanical Technology has a 1-year low of $0.72 and a 1-year high of $1.83. The stock’s 50-day moving average is $1.1 and its 200-day moving average is $1.21. The company has a market cap of $5.7 million and a price-to-earnings ratio of 1.86.
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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