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

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

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

Fuel Tech Stock Performance

NASDAQ:FTEK remained flat at $1.01 during trading hours on Wednesday. The company’s stock had a trading volume of 86,503 shares, compared to its average volume of 68,083. The stock has a 50-day moving average of $1.04 and a 200 day moving average of $1.12. Fuel Tech has a twelve month low of $0.91 and a twelve month high of $1.34. The firm has a market capitalization of $30.54 million, a PE ratio of -33.33 and a beta of 4.16.

Fuel Tech (NASDAQ:FTEK) last released its earnings results on Tuesday, August 6th. The industrial products company reported ($0.01) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.02) by $0.01. Fuel Tech had a negative return on equity of 1.92% and a negative net margin of 3.41%. The business had revenue of $7.04 million during the quarter, compared to the consensus estimate of $5.81 million. During the same period last year, the business posted ($0.03) earnings per share. As a group, equities research analysts expect that Fuel Tech will post -0.02 earnings per share for the current year.

Hedge Funds Weigh In On Fuel Tech

Several hedge funds have recently made changes to their positions in the stock. Marquette Asset Management LLC grew its position in shares of Fuel Tech by 14.7% in the first 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 in the last quarter. Migdal Insurance & Financial Holdings Ltd. purchased a new position in Fuel Tech during the fourth quarter worth about $26,000. Renaissance Technologies LLC grew its position in Fuel Tech by 5.4% during the second quarter. Renaissance Technologies LLC now owns 874,618 shares of the industrial products company’s stock worth $936,000 after buying an additional 44,512 shares in the last quarter. Essex Investment Management Co. LLC grew its position in Fuel Tech by 42.6% during the first 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. Finally, Grace & White Inc. NY lifted its stake in Fuel Tech by 6.9% during the fourth quarter. Grace & White Inc. NY now owns 1,859,922 shares of the industrial products company’s stock worth $1,953,000 after purchasing an additional 120,527 shares during the last quarter. 20.94% of the stock is currently owned by hedge funds and other institutional investors.

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.