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

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

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

Fuel Tech Stock Performance

Shares of NASDAQ FTEK opened at $0.97 on Monday. The stock has a market cap of $29.76 million, a P/E ratio of -48.45 and a beta of 4.24. The firm has a 50 day moving average price of $0.99 and a 200 day moving average price of $1.02. Fuel Tech has a 52-week low of $0.87 and a 52-week high of $1.34.

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

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in FTEK. Virtu Financial LLC acquired a new position in Fuel Tech during the fourth quarter worth $26,000. XTX Topco Ltd acquired a new position in Fuel Tech during the fourth quarter worth $27,000. Millennium Management LLC boosted its holdings in 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 purchasing an additional 24,129 shares during the last quarter. Peapod Lane Capital LLC acquired a new position in Fuel Tech during the fourth quarter worth $1,027,000. Finally, Renaissance Technologies LLC boosted its holdings in Fuel Tech by 15.3% during the fourth quarter. Renaissance Technologies LLC now owns 1,039,609 shares of the industrial products company’s stock worth $1,092,000 after purchasing an additional 138,169 shares during the last quarter. Institutional investors and hedge funds 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.