HC Wainwright Reiterates “Buy” Rating for Fuel Tech (NASDAQ:FTEK)

Fuel Tech (NASDAQ:FTEK)‘s stock had its “buy” rating reaffirmed by investment analysts at HC Wainwright in a report released on Thursday,Benzinga reports. They presently have a $4.00 price target on the industrial products company’s stock. HC Wainwright’s price objective would suggest a potential upside of 300.00% from the company’s previous close. HC Wainwright also issued estimates for Fuel Tech’s Q1 2025 earnings at ($0.02) EPS, Q2 2025 earnings at ($0.03) EPS, Q3 2025 earnings at $0.00 EPS, Q4 2025 earnings at $0.00 EPS, FY2027 earnings at $0.01 EPS and FY2029 earnings at $0.15 EPS.

Separately, StockNews.com started coverage on shares of Fuel Tech in a research note on Sunday, March 2nd. They issued a “hold” rating on the stock.

Fuel Tech Stock Performance

FTEK opened at $1.00 on Thursday. The stock has a market capitalization of $30.71 million, a P/E ratio of -50.00 and a beta of 4.25. The company’s 50-day simple moving average is $1.00 and its two-hundred day simple moving average is $1.02. Fuel Tech has a 52-week low of $0.87 and a 52-week high of $1.34.

Fuel Tech (NASDAQ:FTEK) last posted its earnings results on Tuesday, March 4th. The industrial products company reported ($0.06) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.03) by ($0.03). The company had revenue of $5.28 million for the quarter, compared to the consensus estimate of $5.63 million. Fuel Tech had a negative net margin of 2.29% and a negative return on equity of 1.37%. During the same quarter in the prior year, the company posted ($0.02) EPS. Research analysts forecast that Fuel Tech will post -0.03 EPS for the current fiscal year.

Hedge Funds Weigh In On Fuel Tech

Several institutional investors have recently made changes to their positions in FTEK. Virtu Financial LLC bought a new position in shares of Fuel Tech in the 4th quarter worth approximately $26,000. XTX Topco Ltd purchased a new stake in Fuel Tech in the 4th quarter worth approximately $27,000. Millennium Management LLC increased its holdings in Fuel Tech by 70.1% in the 4th quarter. Millennium Management LLC now owns 58,571 shares of the industrial products company’s stock worth $62,000 after acquiring an additional 24,129 shares in the last quarter. Peapod Lane Capital LLC purchased a new stake in Fuel Tech in the 4th quarter worth approximately $1,027,000. Finally, Renaissance Technologies LLC increased its holdings 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 in the last quarter. 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.