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

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

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

Fuel Tech Trading Down 1.5 %

Shares of Fuel Tech stock opened at $0.97 on Tuesday. The company has a 50-day moving average of $0.99 and a two-hundred day moving average of $1.01. Fuel Tech has a 12-month low of $0.87 and a 12-month high of $1.34. The stock has a market cap of $29.64 million, a PE ratio of -48.26 and a beta of 4.25.

Fuel Tech (NASDAQ:FTEK) last released its quarterly earnings data on Tuesday, March 4th. The industrial products company reported ($0.06) earnings per share for the quarter, missing the consensus estimate of ($0.03) by ($0.03). The firm had revenue of $5.28 million during the quarter, compared to analysts’ expectations 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 period in the previous year, the business earned ($0.02) earnings per share. On average, sell-side analysts forecast that Fuel Tech will post -0.03 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Virtu Financial LLC purchased a new position in Fuel Tech during the fourth quarter worth $26,000. XTX Topco Ltd acquired a new stake in shares of Fuel Tech during the fourth quarter valued at $27,000. Millennium Management LLC increased its position in Fuel Tech by 70.1% during the 4th 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 in the last quarter. Peapod Lane Capital LLC acquired a new position in Fuel Tech in the 4th quarter valued at about $1,027,000. Finally, Renaissance Technologies LLC lifted 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 valued at $1,092,000 after purchasing an additional 138,169 shares in the last quarter. 20.94% of the stock is currently owned by institutional investors and hedge funds.

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.