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

Equities researchers at StockNews.com assumed coverage on shares of Fuel Tech (NASDAQ:FTEK) in a research note issued to investors on Monday. The firm set a “hold” rating on the industrial products company’s stock.

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

Fuel Tech Price Performance

FTEK opened at $0.98 on Monday. The company’s 50-day moving average is $0.99 and its 200 day moving average is $1.02. Fuel Tech has a fifty-two week low of $0.87 and a fifty-two week high of $1.34. The firm has a market capitalization of $30.09 million, a P/E ratio of -49.00 and a beta of 4.25.

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

Institutional Trading of Fuel Tech

Several hedge funds have recently added to or reduced their stakes in the stock. Millennium Management LLC raised its position in shares of Fuel Tech by 70.1% in the fourth quarter. Millennium Management LLC now owns 58,571 shares of the industrial products company’s stock valued at $62,000 after purchasing an additional 24,129 shares during the period. XTX Topco Ltd bought a new stake in shares of Fuel Tech in the fourth quarter valued at approximately $27,000. Renaissance Technologies LLC raised its position in shares of Fuel Tech by 15.3% in 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 purchasing an additional 138,169 shares during the period. Virtu Financial LLC bought a new stake in shares of Fuel Tech in the fourth quarter valued at approximately $26,000. Finally, Peapod Lane Capital LLC bought a new stake in shares of Fuel Tech in the fourth quarter valued at approximately $1,027,000. 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.