Fuel Tech (NASDAQ:FTEK) Earns Hold Rating from Analysts at StockNews.com

StockNews.com initiated coverage on shares of Fuel Tech (NASDAQ:FTEK) in a research note released on Wednesday. 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 research note on Thursday, March 6th.

Fuel Tech Trading Up 1.9 %

FTEK opened at $1.05 on Wednesday. The stock has a fifty day moving average price of $0.99 and a 200 day moving average price of $1.01. Fuel Tech has a 1 year low of $0.87 and a 1 year high of $1.34. The stock has a market cap of $32.24 million, a price-to-earnings ratio of -52.50 and a beta of 4.25.

Fuel Tech (NASDAQ:FTEK) last posted 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). The firm had revenue of $5.28 million for the quarter, compared to analysts’ expectations of $5.63 million. Fuel Tech had a negative return on equity of 1.37% and a negative net margin of 2.29%. During the same period last year, the business earned ($0.02) earnings per share. As a group, sell-side analysts forecast that Fuel Tech will post -0.03 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Fuel Tech

Institutional investors have recently bought and sold shares of the stock. Virtu Financial LLC acquired a new position in shares of Fuel Tech during the 4th quarter valued at about $26,000. XTX Topco Ltd acquired a new stake in Fuel Tech in the 4th quarter worth approximately $27,000. Millennium Management LLC boosted its position 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 worth $62,000 after purchasing an additional 24,129 shares during the period. Peapod Lane Capital LLC acquired a new position in Fuel Tech during the fourth quarter valued at approximately $1,027,000. Finally, 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. 20.94% of the stock is currently owned by 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.