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

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

Separately, HC Wainwright restated a “buy” rating and issued a $4.00 price target on shares of Fuel Tech in a report on Thursday, March 6th.

Fuel Tech Price Performance

Fuel Tech stock opened at $0.94 on Thursday. The firm has a market capitalization of $28.97 million, a price-to-earnings ratio of -47.17 and a beta of 4.25. The company’s 50 day simple moving average is $0.98 and its 200 day simple moving average is $1.01. 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 announced its quarterly earnings results 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 return on equity of 1.37% and a negative net margin of 2.29%. The firm had revenue of $5.28 million for the quarter, compared to the consensus estimate of $5.63 million. During the same period in the prior year, the business earned ($0.02) earnings per share. As a group, analysts predict that Fuel Tech will post -0.03 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the stock. Peapod Lane Capital LLC bought a new stake in shares of Fuel Tech in the fourth quarter valued at about $1,027,000. Virtu Financial LLC bought a new position in shares of Fuel Tech during the fourth quarter worth about $26,000. Renaissance Technologies LLC raised its position in Fuel Tech by 15.3% in 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 buying an additional 138,169 shares during the last quarter. XTX Topco Ltd bought a new stake in Fuel Tech in the 4th quarter valued at approximately $27,000. Finally, Millennium Management LLC boosted its position 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 worth $62,000 after acquiring an additional 24,129 shares during the last quarter. 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.