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

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

Separately, HC Wainwright restated a “buy” rating and set a $4.00 price objective on shares of Fuel Tech in a research report on Wednesday, March 13th.

Fuel Tech Stock Up 1.8 %

FTEK stock opened at $1.15 on Wednesday. The stock has a market cap of $34.95 million, a PE ratio of -23.00 and a beta of 4.34. The firm’s 50-day simple moving average is $1.15 and its 200 day simple moving average is $1.09. Fuel Tech has a fifty-two week low of $0.96 and a fifty-two week high of $1.83.

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Migdal Insurance & Financial Holdings Ltd. acquired a new position in shares of Fuel Tech in the fourth quarter worth about $26,000. Acuitas Investments LLC boosted its holdings in shares of Fuel Tech by 36.9% in the fourth 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 period. Finally, Grace & White Inc. NY boosted its holdings in shares of 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 worth $2,052,000 after buying an additional 25,462 shares during the period. 20.94% of the stock is currently owned by institutional investors and hedge funds.

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.