Fuel Tech (NASDAQ:FTEK) Receives New Coverage from Analysts at StockNews.com

StockNews.com assumed coverage on shares of Fuel Tech (NASDAQ:FTEK) in a report published on Thursday. The firm issued a hold rating on the industrial products company’s stock.

Separately, HC Wainwright reissued a buy rating and set a $4.00 price target on shares of Fuel Tech in a research report on Wednesday, March 13th.

Fuel Tech Price Performance

Fuel Tech stock remained flat at $1.25 during mid-day trading on Thursday. The company’s stock had a trading volume of 27,736 shares, compared to its average volume of 54,524. Fuel Tech has a twelve month low of $0.96 and a twelve month high of $1.48. The company has a market capitalization of $37.99 million, a P/E ratio of -25.00 and a beta of 4.21. The business has a 50 day simple moving average of $1.17 and a 200 day simple moving average of $1.10.

Fuel Tech (NASDAQ:FTEK) last posted its quarterly earnings results on Monday, March 11th. The industrial products company reported ($0.02) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.03) by $0.01. Fuel Tech had a negative return on equity of 3.49% and a negative net margin of 5.68%. The firm had revenue of $6.35 million during the quarter, compared to analyst estimates of $6.90 million. Equities research analysts predict that Fuel Tech will post -0.03 EPS for the current fiscal year.

Institutional Investors Weigh In On Fuel Tech

Several large investors have recently bought and sold shares of FTEK. Essex Investment Management Co. LLC boosted its holdings in shares of 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 valued at $485,000 after acquiring an additional 119,763 shares during the last quarter. Acuitas Investments LLC boosted its holdings in Fuel Tech by 36.9% in the fourth quarter. Acuitas Investments LLC now owns 822,613 shares of the industrial products company’s stock worth $864,000 after purchasing an additional 221,932 shares during the last quarter. Grace & White Inc. NY grew its position in Fuel Tech by 6.9% in the 4th quarter. Grace & White Inc. NY now owns 1,859,922 shares of the industrial products company’s stock worth $1,953,000 after purchasing an additional 120,527 shares during the period. Finally, Migdal Insurance & Financial Holdings Ltd. purchased a new stake in Fuel Tech during the 4th quarter valued at $26,000. 20.94% of the stock is currently 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.