HC Wainwright Reaffirms “Buy” Rating for Fuel Tech (NASDAQ:FTEK)

Fuel Tech (NASDAQ:FTEK)‘s stock had its “buy” rating reaffirmed by equities research analysts at HC Wainwright in a research note issued on Thursday, Benzinga reports. They presently have a $4.00 target price on the industrial products company’s stock. HC Wainwright’s target price indicates a potential upside of 207.69% from the company’s current price.

Separately, StockNews.com assumed coverage on shares of Fuel Tech in a report on Thursday, May 2nd. They issued a “hold” rating on the stock.

Fuel Tech Trading Up 1.6 %

NASDAQ:FTEK opened at $1.30 on Thursday. The firm has a fifty day simple moving average of $1.18 and a two-hundred day simple moving average of $1.10. Fuel Tech has a 12 month low of $0.96 and a 12 month high of $1.48. The stock has a market capitalization of $39.50 million, a price-to-earnings ratio of -26.00 and a beta of 4.21.

Fuel Tech (NASDAQ:FTEK) last announced its quarterly 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 business had revenue of $6.35 million for the quarter, compared to analyst estimates of $6.90 million. Fuel Tech had a negative return on equity of 3.49% and a negative net margin of 5.68%. Equities analysts predict that Fuel Tech will post -0.03 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Fuel Tech

Several institutional investors and hedge funds have recently added to or reduced their stakes in FTEK. Migdal Insurance & Financial Holdings Ltd. bought a new position in shares of Fuel Tech in the fourth quarter valued at approximately $26,000. Marquette Asset Management LLC increased its position in shares of Fuel Tech by 14.7% during the 1st quarter. Marquette Asset Management LLC now owns 141,189 shares of the industrial products company’s stock valued at $171,000 after purchasing an additional 18,133 shares during the last quarter. Essex Investment Management Co. LLC raised its stake in shares of Fuel Tech by 42.6% during the 1st quarter. Essex Investment Management Co. LLC now owns 401,159 shares of the industrial products company’s stock worth $485,000 after purchasing an additional 119,763 shares during the period. Acuitas Investments LLC boosted its holdings in shares of Fuel Tech by 36.9% in the 4th quarter. Acuitas Investments LLC now owns 822,613 shares of the industrial products company’s stock worth $864,000 after buying an additional 221,932 shares during the last quarter. Finally, Grace & White Inc. NY increased its holdings in Fuel Tech by 6.9% during the fourth quarter. Grace & White Inc. NY now owns 1,859,922 shares of the industrial products company’s stock worth $1,953,000 after buying an additional 120,527 shares during 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.