Fuel Tech (NASDAQ:FTEK) Earns Hold Rating from Analysts at StockNews.com

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

Fuel Tech Price Performance

FTEK opened at $0.97 on Friday. The company’s 50-day moving average is $1.00 and its 200 day moving average is $1.02. Fuel Tech has a fifty-two week low of $0.91 and a fifty-two week high of $1.34. The firm has a market capitalization of $29.78 million, a P/E ratio of -48.50 and a beta of 4.07.

Fuel Tech (NASDAQ:FTEK) last released 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 net margin of 2.29% and a negative return on equity of 1.37%. 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 previous year, the business earned ($0.02) earnings per share. On average, equities research analysts expect that Fuel Tech will post -0.03 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the company. Renaissance Technologies LLC raised its position 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 worth $1,092,000 after acquiring an additional 138,169 shares during the period. Peapod Lane Capital LLC purchased a new position in shares of Fuel Tech in the fourth quarter worth about $1,027,000. Millennium Management LLC increased its stake in shares of Fuel Tech by 70.1% in the fourth quarter. Millennium Management LLC now owns 58,571 shares of the industrial products company’s stock worth $62,000 after purchasing an additional 24,129 shares in the last quarter. XTX Topco Ltd purchased a new position in shares of Fuel Tech in the fourth quarter worth about $27,000. Finally, Virtu Financial LLC purchased a new position in shares of Fuel Tech in the fourth quarter worth about $26,000. 20.94% of the stock is owned by 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.