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

StockNews.com started coverage on shares of Fuel Tech (NASDAQ:FTEK) in a research report released on Sunday. The brokerage issued a hold rating on the industrial products company’s stock.

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

Fuel Tech Stock Performance

FTEK opened at $1.07 on Friday. The firm’s fifty day moving average is $1.09 and its two-hundred day moving average is $1.12. The firm has a market cap of $32.52 million, a PE ratio of -35.67 and a beta of 4.16. Fuel Tech has a twelve month low of $0.96 and a twelve month high of $1.34.

Fuel Tech (NASDAQ:FTEK) last released its quarterly earnings data on Tuesday, May 7th. The industrial products company reported $0.01 EPS for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.02. The business had revenue of $4.96 million during the quarter, compared to analysts’ expectations of $6.73 million. Fuel Tech had a negative net margin of 3.41% and a negative return on equity of 1.92%. Equities analysts forecast that Fuel Tech will post -0.02 EPS for the current fiscal year.

Institutional Investors Weigh In On Fuel Tech

Several institutional investors have recently added to or reduced their stakes in FTEK. Grace & White Inc. NY lifted its holdings in shares of Fuel Tech by 6.9% in the fourth quarter. Grace & White Inc. NY now owns 1,859,922 shares of the industrial products company’s stock valued at $1,953,000 after purchasing an additional 120,527 shares in the last quarter. Acuitas Investments LLC lifted its stake in Fuel Tech by 36.9% in the 4th quarter. Acuitas Investments LLC now owns 822,613 shares of the industrial products company’s stock valued at $864,000 after acquiring an additional 221,932 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. bought a new stake in Fuel Tech in the 4th quarter valued at approximately $26,000. Essex Investment Management Co. LLC boosted its position in Fuel Tech by 42.6% during the 1st quarter. Essex Investment Management Co. LLC now owns 401,159 shares of the industrial products company’s stock worth $485,000 after acquiring an additional 119,763 shares during the last quarter. Finally, Marquette Asset Management LLC grew its stake in shares of Fuel Tech by 14.7% during the 1st quarter. Marquette Asset Management LLC now owns 141,189 shares of the industrial products company’s stock worth $171,000 after acquiring an additional 18,133 shares in the last quarter. 20.94% of the stock is 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.