Migdal Insurance & Financial Holdings Ltd. Takes $26,000 Position in Fuel Tech, Inc. (NASDAQ:FTEK)

Migdal Insurance & Financial Holdings Ltd. acquired a new stake in shares of Fuel Tech, Inc. (NASDAQ:FTEK) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 25,014 shares of the industrial products company’s stock, valued at approximately $26,000.

A number of other hedge funds have also made changes to their positions in FTEK. Jane Street Group LLC increased its holdings in shares of Fuel Tech by 107.3% during the 3rd quarter. Jane Street Group LLC now owns 22,731 shares of the industrial products company’s stock valued at $27,000 after acquiring an additional 11,765 shares during the last quarter. Charles Schwab Investment Management Inc. bought a new stake in shares of Fuel Tech in the 1st quarter worth approximately $32,000. Two Sigma Securities LLC bought a new stake in shares of Fuel Tech in the 2nd quarter worth approximately $32,000. Virtu Financial LLC lifted its position in shares of Fuel Tech by 150.2% in the 4th quarter. Virtu Financial LLC now owns 26,898 shares of the industrial products company’s stock worth $34,000 after acquiring an additional 16,147 shares during the period. Finally, Susquehanna International Group LLP lifted its position in shares of Fuel Tech by 19.2% in the 4th quarter. Susquehanna International Group LLP now owns 70,877 shares of the industrial products company’s stock worth $90,000 after acquiring an additional 11,437 shares during the period. Institutional investors and hedge funds own 20.94% of the company’s stock.

Fuel Tech Stock Performance

Fuel Tech stock opened at $1.12 on Friday. Fuel Tech, Inc. has a one year low of $0.96 and a one year high of $1.83. The business has a 50 day simple moving average of $1.15 and a 200 day simple moving average of $1.09.

Fuel Tech (NASDAQ:FTEK) last posted its earnings results on Monday, March 11th. The industrial products company reported ($0.02) EPS for the quarter, topping the consensus estimate of ($0.03) by $0.01. Fuel Tech had a negative return on equity of 3.49% and a negative net margin of 5.68%. The business had revenue of $6.35 million during the quarter, compared to the consensus estimate of $6.90 million. As a group, sell-side analysts anticipate that Fuel Tech, Inc. will post -0.03 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on FTEK. StockNews.com initiated coverage on Fuel Tech in a research report on Tuesday. They issued a “hold” rating for the company. HC Wainwright restated a “buy” rating and set a $4.00 target price on shares of Fuel Tech in a research report on Wednesday, March 13th.

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.