StockNews.com Begins Coverage on Fuel Tech (NASDAQ:FTEK)

StockNews.com assumed coverage on shares of Fuel Tech (NASDAQ:FTEK) in a research report report published on Wednesday. The brokerage issued a hold rating on the industrial products company’s stock.

Separately, HC Wainwright reaffirmed a buy rating and issued a $4.00 target price on shares of Fuel Tech in a report on Wednesday, March 13th.

Fuel Tech Stock Up 7.8 %

Shares of Fuel Tech stock opened at $1.24 on Wednesday. Fuel Tech has a one year low of $0.96 and a one year high of $1.48. The stock’s fifty day moving average is $1.15 and its 200 day moving average is $1.09.

Fuel Tech (NASDAQ:FTEK) last released its earnings results on Monday, March 11th. The industrial products company reported ($0.02) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.03) by $0.01. The firm had revenue of $6.35 million during the quarter, compared to analysts’ expectations of $6.90 million. Fuel Tech had a negative return on equity of 3.49% and a negative net margin of 5.68%. On average, equities analysts expect that Fuel Tech will post -0.03 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Grace & White Inc. NY boosted its position in shares of Fuel Tech by 6.9% during the 4th quarter. Grace & White Inc. NY now owns 1,859,922 shares of the industrial products company’s stock valued at $1,953,000 after acquiring an additional 120,527 shares during the last quarter. Acuitas Investments LLC raised its holdings in Fuel Tech by 36.9% during the 4th quarter. Acuitas Investments LLC now owns 822,613 shares of the industrial products company’s stock valued at $864,000 after buying an additional 221,932 shares during the period. Finally, Migdal Insurance & Financial Holdings Ltd. purchased a new stake in Fuel Tech during the 4th quarter valued at $26,000. 20.94% of the stock is currently owned by institutional investors.

Fuel Tech Company Profile

Fuel Tech, Inc provides boiler optimization, efficiency improvement, and air pollution reduction and control solutions to utility and industrial customers worldwide. The company operates through Air Pollution Control Technology and FUEL CHEM Technology segments. The Air Pollution Control Technology segment offers technologies to reduce nitrogen oxide (NOx) emissions in flue gas from boilers, incinerators, furnaces, and other stationary combustion sources; NOxOUT and HERT selective non-catalytic reduction systems; selective catalytic reduction systems comprising ammonia injection grid, and graduated straightening grid systems; I-NOx systems; ESP Processes and Services; ULTRA technology; and flue gas conditioning systems.