StockNews.com Begins Coverage on Fuel Tech (NASDAQ:FTEK)

StockNews.com started coverage on shares of Fuel Tech (NASDAQ:FTEK) in a research note published on Monday morning. The brokerage issued 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 report on Thursday, March 6th.

Fuel Tech Price Performance

Shares of FTEK opened at $0.97 on Monday. The firm has a market capitalization of $29.76 million, a PE ratio of -48.45 and a beta of 4.24. 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.

Fuel Tech (NASDAQ:FTEK) last issued 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 company had revenue of $5.28 million during 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 period in the previous year, the company earned ($0.02) earnings per share. Analysts predict that Fuel Tech will post -0.03 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Fuel Tech

A number of hedge funds have recently bought and sold shares of FTEK. Virtu Financial LLC bought a new position in Fuel Tech during the fourth quarter worth about $26,000. XTX Topco Ltd bought a new position in Fuel Tech during the fourth quarter worth about $27,000. Millennium Management LLC increased 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 acquiring an additional 24,129 shares during the period. Peapod Lane Capital LLC bought a new position in Fuel Tech during the fourth quarter worth about $1,027,000. Finally, Renaissance Technologies LLC increased its position in Fuel Tech by 15.3% during the fourth 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 during the period. 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.