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

StockNews.com assumed coverage on shares of Fuel Tech (NASDAQ:FTEKFree Report) in a report issued on Sunday. The brokerage 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.

View Our Latest Research Report on Fuel Tech

Fuel Tech Price Performance

Shares of FTEK opened at $1.25 on Friday. The business’s 50 day simple moving average is $1.13 and its 200-day simple moving average is $1.09. Fuel Tech has a 1 year low of $0.96 and a 1 year high of $1.83. The stock has a market capitalization of $37.99 million, a price-to-earnings ratio of -25.00 and a beta of 4.34.

Fuel Tech (NASDAQ:FTEKGet Free Report) last announced its quarterly earnings data on Monday, March 11th. The industrial products company reported ($0.02) EPS for the quarter, beating the consensus estimate of ($0.03) by $0.01. The company had revenue of $6.35 million for the quarter, compared to the consensus estimate of $6.90 million. Fuel Tech had a negative return on equity of 3.49% and a negative net margin of 5.68%. On average, sell-side analysts expect that Fuel Tech will post -0.03 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in Fuel Tech during the fourth quarter worth about $26,000. Jane Street Group LLC grew its holdings in Fuel Tech by 107.3% in the third quarter. Jane Street Group LLC now owns 22,731 shares of the industrial products company’s stock valued at $27,000 after purchasing an additional 11,765 shares during the period. Charles Schwab Investment Management Inc. acquired a new stake in Fuel Tech in the first quarter valued at approximately $32,000. Two Sigma Securities LLC acquired a new stake in Fuel Tech in the second quarter valued at approximately $32,000. Finally, Virtu Financial LLC boosted its stake in shares of Fuel Tech by 150.2% in the fourth quarter. Virtu Financial LLC now owns 26,898 shares of the industrial products company’s stock worth $34,000 after acquiring an additional 16,147 shares during the last quarter. 20.94% of the stock is currently owned by hedge funds and other institutional investors.

Fuel Tech Company Profile

(Get Free Report)

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.

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