StockNews.com Initiates Coverage on Fuel Tech (NASDAQ:FTEK)

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

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

Check Out Our Latest Stock Analysis on Fuel Tech

Fuel Tech Trading Down 2.7 %

NASDAQ:FTEK opened at $1.07 on Monday. The stock’s 50-day moving average is $1.19 and its 200-day moving average is $1.12. The stock has a market cap of $32.52 million, a P/E ratio of -35.67 and a beta of 4.06. Fuel Tech has a 1-year low of $0.96 and a 1-year high of $1.48.

Fuel Tech (NASDAQ:FTEKGet Free Report) last announced its earnings results on Tuesday, May 7th. The industrial products company reported $0.01 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.01) by $0.02. Fuel Tech had a negative return on equity of 1.92% and a negative net margin of 3.41%. The business had revenue of $4.96 million during the quarter, compared to analyst estimates of $6.73 million. As a group, equities analysts forecast that Fuel Tech will post -0.02 EPS for the current year.

Hedge Funds Weigh In On Fuel Tech

Several hedge funds and other institutional investors have recently bought and sold shares of FTEK. Grace & White Inc. NY raised its position 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 worth $1,953,000 after acquiring an additional 120,527 shares in the last quarter. Acuitas Investments LLC lifted its stake in Fuel Tech by 36.9% in the fourth quarter. Acuitas Investments LLC now owns 822,613 shares of the industrial products company’s stock valued at $864,000 after buying an additional 221,932 shares during the period. Essex Investment Management Co. LLC boosted its holdings 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 buying an additional 119,763 shares in the last quarter. Marquette Asset Management LLC boosted its holdings 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 worth $171,000 after buying an additional 18,133 shares in the last quarter. Finally, Migdal Insurance & Financial Holdings Ltd. acquired a new stake in shares of Fuel Tech during the 4th quarter worth approximately $26,000. Institutional investors and hedge funds own 20.94% of the company’s stock.

Fuel Tech Company Profile

(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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