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

Analysts at StockNews.com initiated coverage on shares of Fuel Tech (NASDAQ:FTEK) in a research report issued to clients and investors on Tuesday. The firm set a “hold” rating on the industrial products company’s stock.

Separately, HC Wainwright reaffirmed 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 Down 1.3%

Shares of Fuel Tech stock opened at $0.96 on Tuesday. The stock’s fifty day moving average is $0.98 and its 200-day moving average is $1.00. The firm has a market capitalization of $29.45 million, a PE ratio of -47.85 and a beta of 4.38. Fuel Tech has a 12-month low of $0.87 and a 12-month high of $1.28.

Fuel Tech (NASDAQ:FTEK) last announced its earnings results on Monday, May 12th. The industrial products company reported ($0.02) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.02). The company had revenue of $6.38 million for the quarter, compared to analyst estimates of $6.64 million. Fuel Tech had a negative return on equity of 1.37% and a negative net margin of 2.29%. Analysts expect that Fuel Tech will post -0.03 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the business. Essex Investment Management Co. LLC grew its holdings in shares of Fuel Tech by 11.8% during the first quarter. Essex Investment Management Co. LLC now owns 124,241 shares of the industrial products company’s stock valued at $130,000 after buying an additional 13,106 shares in the last quarter. Grace & White Inc. NY grew its holdings in shares of Fuel Tech by 1.7% during the first quarter. Grace & White Inc. NY now owns 1,899,149 shares of the industrial products company’s stock valued at $1,994,000 after buying an additional 31,022 shares in the last quarter. Millennium Management LLC grew its holdings in shares of 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 in the last quarter. XTX Topco Ltd purchased a new position in shares of Fuel Tech during the fourth quarter valued at $27,000. Finally, Renaissance Technologies LLC grew its holdings in shares of Fuel Tech by 15.3% during the fourth quarter. Renaissance Technologies LLC now owns 1,039,609 shares of the industrial products company’s stock valued at $1,092,000 after buying an additional 138,169 shares in the last quarter. Hedge funds and other institutional investors own 20.94% of the company’s stock.

Fuel Tech Company Profile

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.