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First Albany sells more MTI stock

Publication Date:23-December-2005
02:00 PM US Eastern Timezone
Source:The Business Review (Albany)

First Albany Corp. sold another 50,000 shares of stock in Mechanical Technology Inc. Dec. 21 and Dec. 22.

The Albany, N.Y., investment firm, which three years ago owned 38 percent of MTI (Nasdaq: MKTY), a manufacturer of precision instruments and developer of micro fuel cells, has been shedding the stock to reduce the drag on First Albany's earnings. The most recent transactions follow the sale of 330,000 shares between Nov. 16 and Dec. 9.

First Albany (Nasdaq: FACT) now owns 1.52 million shares of Mechanical Technology, or about 4.9 percent of the stock outstanding.

The Dec. 21 and Dec. 22 stock sales grossed First Albany $139,200, bringing its total proceeds since Nov. 16 to more than $1.1 million


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