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

Equities researchers at StockNews.com initiated coverage on shares of Fuel Tech (NASDAQ:FTEK) in a research report issued to clients and investors on Wednesday. The brokerage set 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 research note on Thursday, March 6th.

Fuel Tech Stock Up 3.9 %

Shares of FTEK stock opened at $1.03 on Wednesday. The firm’s 50 day moving average price is $0.99 and its two-hundred day moving average price is $1.01. Fuel Tech has a fifty-two week low of $0.87 and a fifty-two week high of $1.34. The stock has a market cap of $31.63 million, a price-to-earnings ratio of -51.50 and a beta of 4.25.

Fuel Tech (NASDAQ:FTEK) last issued its quarterly earnings data on Tuesday, March 4th. The industrial products company reported ($0.06) EPS for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.03). The company had revenue of $5.28 million for the quarter, compared to analyst estimates of $5.63 million. Fuel Tech had a negative return on equity of 1.37% and a negative net margin of 2.29%. During the same quarter in the prior year, the firm earned ($0.02) EPS. On average, equities analysts forecast that Fuel Tech will post -0.03 EPS for the current fiscal year.

Institutional Trading of Fuel Tech

A number of hedge funds and other institutional investors have recently modified their holdings of FTEK. Virtu Financial LLC purchased a new position in Fuel Tech in the fourth quarter valued at about $26,000. XTX Topco Ltd purchased a new position in shares of Fuel Tech during the 4th quarter valued at approximately $27,000. Millennium Management LLC grew its position in shares of 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 buying an additional 24,129 shares in the last quarter. Peapod Lane Capital LLC bought a new stake in shares of Fuel Tech in the fourth quarter worth $1,027,000. Finally, Renaissance Technologies LLC raised its holdings in Fuel Tech by 15.3% in the fourth 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. 20.94% of the stock is owned by hedge funds and other institutional investors.

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.