Fuel Tech (NASDAQ:FTEK) Receives New Coverage from Analysts at StockNews.com

StockNews.com began coverage on shares of Fuel Tech (NASDAQ:FTEK) in a report published on Thursday morning. The firm issued a hold rating on the industrial products company’s stock.

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

Fuel Tech Price Performance

Shares of NASDAQ:FTEK remained flat at $1.25 during trading on Thursday. The stock had a trading volume of 27,736 shares, compared to its average volume of 54,524. Fuel Tech has a 1 year low of $0.96 and a 1 year high of $1.48. The firm has a market capitalization of $37.99 million, a PE ratio of -25.00 and a beta of 4.21. The business’s 50-day moving average price is $1.17 and its 200-day moving average price is $1.10.

Fuel Tech (NASDAQ:FTEK) last posted its quarterly earnings results on Monday, March 11th. The industrial products company reported ($0.02) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.01. The company had revenue of $6.35 million during the quarter, compared to analyst estimates of $6.90 million. Fuel Tech had a negative net margin of 5.68% and a negative return on equity of 3.49%. Equities research analysts anticipate that Fuel Tech will post -0.03 earnings per share for the current year.

Institutional Investors Weigh In On Fuel Tech

Several hedge funds have recently bought and sold shares of FTEK. Migdal Insurance & Financial Holdings Ltd. purchased a new position in shares of Fuel Tech during the 4th quarter valued at approximately $26,000. Grace & White Inc. NY increased its holdings in Fuel Tech by 1.5% in the third quarter. Grace & White Inc. NY now owns 1,739,395 shares of the industrial products company’s stock valued at $2,052,000 after buying an additional 25,462 shares in the last quarter. Essex Investment Management Co. LLC raised its position in shares of Fuel Tech by 42.6% in the first quarter. Essex Investment Management Co. LLC now owns 401,159 shares of the industrial products company’s stock worth $485,000 after acquiring an additional 119,763 shares during the period. Finally, Acuitas Investments LLC boosted its stake in shares of Fuel Tech by 36.9% during the 4th quarter. Acuitas Investments LLC now owns 822,613 shares of the industrial products company’s stock worth $864,000 after acquiring an additional 221,932 shares in the last quarter. Hedge funds and other institutional investors own 20.94% of the company’s stock.

About Fuel Tech

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.