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

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

Separately, HC Wainwright reiterated a “buy” rating and set a $4.00 target price on shares of Fuel Tech in a research report on Thursday, March 6th.

Fuel Tech Stock Up 0.1 %

Shares of FTEK opened at $0.97 on Tuesday. The business has a 50-day simple moving average of $0.99 and a two-hundred day simple moving average of $1.01. The stock has a market cap of $29.65 million, a price-to-earnings ratio of -48.29 and a beta of 4.25. Fuel Tech has a 52 week low of $0.87 and a 52 week high of $1.34.

Fuel Tech (NASDAQ:FTEK) last issued its quarterly earnings results on Tuesday, March 4th. The industrial products company reported ($0.06) EPS for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.03). Fuel Tech had a negative return on equity of 1.37% and a negative net margin of 2.29%. The company had revenue of $5.28 million during the quarter, compared to analysts’ expectations of $5.63 million. During the same quarter in the previous year, the company earned ($0.02) EPS. On average, equities analysts anticipate that Fuel Tech will post -0.03 earnings per share for the current fiscal year.

Institutional Trading of Fuel Tech

Institutional investors have recently made changes to their positions in the business. Virtu Financial LLC purchased a new stake in shares of Fuel Tech during the fourth quarter worth about $26,000. XTX Topco Ltd purchased a new stake in shares of Fuel Tech during the fourth quarter worth about $27,000. Millennium Management LLC boosted its stake in Fuel Tech by 70.1% during the fourth quarter. Millennium Management LLC now owns 58,571 shares of the industrial products company’s stock valued at $62,000 after buying an additional 24,129 shares during the last quarter. Peapod Lane Capital LLC bought a new stake in Fuel Tech in the 4th quarter worth approximately $1,027,000. Finally, Renaissance Technologies LLC increased its stake in Fuel Tech by 15.3% in the 4th quarter. Renaissance Technologies LLC now owns 1,039,609 shares of the industrial products company’s stock worth $1,092,000 after acquiring an additional 138,169 shares during the last quarter. Hedge funds and other institutional investors own 20.94% of the company’s stock.

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.