Insider Action: David Michaels, Mechanical Technology Inc. (OTCMKTS:MKTY)’s insider Purchased 10,412 Shares

November 23, 2016 - By Marie Mckinney

Insider Action: David Michaels, Mechanical Technology Inc. (OTCMKTS:MKTY)'s insider Purchased 10,412 Shares

David Michaels Insider Buy

Mechanical Technology Inc’s director David Michaels bought 10,412 shares of the Pinksheet-listed company in a stock market deal dated November 23, 2016. The bought shares were acquired at an average market price per share of $1.5, for a cumulative purchase value of $15,597. In the last month, he also acquired 5,000 shares worth about $7,250 USD. The transaction, dated November 23, 2016, is recorded on a Form 4 filed with the U.S. SEC and is available for free here. The chance of this trade staying undiscovered is little because it’s new, with David Michaels now having ownership of 39,412 shares — that is 0.44% of the Company’s total market cap.

It is down 58.89% since April 21, 2016 and is uptrending. It has outperformed by 53.56% the S&P500.

Mechanical Technology, Incorporated conducts activities through its subsidiary, MTI Instruments, Inc. . The company has a market cap of $12.69 million. MTI Instruments supplies precision linear displacement solutions, vibration measurement and system balancing solutions, and wafer inspection tools. It currently has negative earnings. The Company’s product offerings include Accumeasure Series, Microtrak 4, Microtrak PRO-2D, MTI-2100 Fotonic Sensor Series, Accumeasure D Series, Microtrak TGS, PBS-4100+ Portable Balancing System, PBS-4100R+ Test Cell Vibration Analysis & Trim Balancing System, TSC-4800A Tachometer Signal Conditioner and 1510A Calibrator, Accumeasure Digital Series, Accumeasure Analog Series, Semtester Tensile Stages and Proforma 300i, PV 1000.

According to Zacks Investment Research, “Mechanical Technology Inc. incubates alternative energy technology. Its investments in alternative energy companies have included Plug Power, Inc. and SatCon Technology Corp. Plug Power is a U.S. designer and developer of on-site, electricity generation systems utilizing proton exchange membrane fuel cells for residential applications. SatCon Technology Corporation manufactures and sells power and energy management products for telecommunications, silicon wafer manufacturing, factory automation, aircraft, satellites and automotive applications. (PRESS RELEASE)”

Analysts await Mechanical Technology Inc. (OTCMKTS:MKTY) to report earnings on March, 29.

More news for Mechanical Technology Inc. (OTCMKTS:MKTY) were recently published by: Businesswire.com, which released: “Mechanical Technology Announces Third Quarter 2016 Earnings” on October 27, 2016. Finance.Yahoo.com‘s article titled: “Mechanical Technology Secures $2.74 Million Investment from Brookstone ..” and published on October 24, 2016 is yet another important article.

MKTY Company Profile

Mechanical Technology, Incorporated, incorporated on October 4, 1961, conducts activities through its subsidiary, MTI Instruments, Inc. (MTI Instruments). MTI Instruments supplies precision linear displacement solutions, vibration measurement and system balancing solutions, and wafer inspection tools. MTI Instruments serves markets that require precise measurements and control of products and processes in automated manufacturing, assembly and operation of machinery; metrology tools for semiconductor and solar wafer characterization; tensile stage systems for materials testing and precision linear displacement gauges for use in academic and industrial research and development settings, and engine balancing and vibration analysis systems for both military and commercial aircraft. MTI Instruments provides its clients with enabling sensors and sensing technologies. It customizes linear displacement solutions for original equipment manufacturers (OEMs) that can be incorporated into a tool or equipment manufactured by a firm to monitor performance and/or achieve control (in product application) or into a process to control the manufacture of parts or measure critical parameters of parts as they enter or leave a process (in process applications).

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