Fuel Tech (NASDAQ:FTEK) Now Covered by StockNews.com

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

Separately, HC Wainwright reissued a buy rating and set a $4.00 price target on shares of Fuel Tech in a research note on Thursday, May 9th.

Fuel Tech Stock Performance

Shares of FTEK stock opened at $1.00 on Wednesday. The firm has a market capitalization of $30.23 million, a price-to-earnings ratio of -33.17 and a beta of 4.16. The firm’s 50 day moving average is $1.04 and its 200-day moving average is $1.12. Fuel Tech has a 1 year low of $0.91 and a 1 year high of $1.34.

Fuel Tech (NASDAQ:FTEK) last posted its quarterly earnings data on Tuesday, August 6th. The industrial products company reported ($0.01) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.02) by $0.01. The firm had revenue of $7.04 million for the quarter, compared to the consensus estimate of $5.81 million. Fuel Tech had a negative return on equity of 1.92% and a negative net margin of 3.41%. During the same quarter in the prior year, the business earned ($0.03) EPS. On average, equities research analysts forecast that Fuel Tech will post -0.02 earnings per share for the current fiscal year.

Institutional Trading of Fuel Tech

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Acuitas Investments LLC boosted its stake 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 worth $864,000 after acquiring an additional 221,932 shares during the last quarter. Grace & White Inc. NY raised its holdings in Fuel Tech by 6.9% in 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 purchasing an additional 120,527 shares during the period. Essex Investment Management Co. LLC boosted its position in shares of Fuel Tech by 42.6% during the first 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 in the last quarter. Renaissance Technologies LLC grew its holdings in shares of Fuel Tech by 5.4% in the 2nd quarter. Renaissance Technologies LLC now owns 874,618 shares of the industrial products company’s stock valued at $936,000 after buying an additional 44,512 shares during the period. Finally, Migdal Insurance & Financial Holdings Ltd. bought a new stake in shares of Fuel Tech in the 4th quarter valued at $26,000. 20.94% of the stock is owned by institutional investors.

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.