Fuel Tech (NASDAQ:FTEK) Coverage Initiated at StockNews.com

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

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

Fuel Tech Stock Performance

FTEK opened at $0.97 on Tuesday. Fuel Tech has a fifty-two week low of $0.87 and a fifty-two week high of $1.34. The company has a fifty day moving average of $0.99 and a two-hundred day moving average of $1.01. The stock has a market capitalization of $29.66 million, a price-to-earnings ratio of -48.30 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 analysts’ consensus estimates of ($0.03) by ($0.03). Fuel Tech had a negative net margin of 2.29% and a negative return on equity of 1.37%. The firm had revenue of $5.28 million during the quarter, compared to analysts’ expectations of $5.63 million. During the same period in the previous year, the firm posted ($0.02) EPS. On average, equities research analysts forecast that Fuel Tech will post -0.03 earnings per share for the current year.

Institutional Trading of Fuel Tech

Institutional investors and hedge funds have recently modified their holdings of the stock. Virtu Financial LLC purchased a new stake in shares of Fuel Tech during the fourth quarter worth about $26,000. XTX Topco Ltd purchased a new stake in Fuel Tech during the 4th quarter valued at about $27,000. Millennium Management LLC grew its stake 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 valued at $62,000 after acquiring an additional 24,129 shares in the last quarter. Peapod Lane Capital LLC purchased a new stake in Fuel Tech during the 4th quarter valued at about $1,027,000. Finally, Renaissance Technologies LLC grew its stake in Fuel Tech by 15.3% during 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 acquiring an additional 138,169 shares in the last quarter. Hedge funds and other institutional investors own 20.94% of the company’s stock.

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.