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

StockNews.com assumed coverage on shares of Fuel Tech (NASDAQ:FTEKFree Report) in a research report sent to investors on Saturday morning. The brokerage issued a hold rating on the industrial products company’s stock.

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

Get Our Latest Stock Report on Fuel Tech

Fuel Tech Price Performance

Shares of NASDAQ FTEK opened at $1.21 on Friday. Fuel Tech has a fifty-two week low of $0.96 and a fifty-two week high of $1.48. The stock’s 50-day simple moving average is $1.19 and its 200-day simple moving average is $1.11.

Fuel Tech (NASDAQ:FTEKGet Free Report) last released its quarterly 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. The company 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 1.92% and a negative net margin of 3.41%. As a group, research analysts predict that Fuel Tech will post -0.02 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Grace & White Inc. NY grew its stake in shares of Fuel Tech by 6.9% in the 4th quarter. Grace & White Inc. NY now owns 1,859,922 shares of the industrial products company’s stock valued at $1,953,000 after purchasing an additional 120,527 shares during the last quarter. Acuitas Investments LLC grew its stake 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 valued at $864,000 after purchasing an additional 221,932 shares during the last quarter. Essex Investment Management Co. LLC grew its stake in shares of Fuel Tech by 42.6% in the 1st quarter. Essex Investment Management Co. LLC now owns 401,159 shares of the industrial products company’s stock valued at $485,000 after purchasing an additional 119,763 shares during the last quarter. Marquette Asset Management LLC grew its stake in shares of Fuel Tech by 14.7% in 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. Finally, Migdal Insurance & Financial Holdings Ltd. purchased a new position in shares of Fuel Tech in the 4th quarter valued at approximately $26,000. Institutional investors and hedge funds own 20.94% of the company’s stock.

About Fuel Tech

(Get Free Report)

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.

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