StockNews.com Begins Coverage on Fuel Tech (NASDAQ:FTEK)

Equities researchers at StockNews.com assumed coverage on shares of Fuel Tech (NASDAQ:FTEK) in a research report issued on Wednesday. The brokerage set a “hold” rating on the industrial products company’s stock.

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

Fuel Tech Stock Up 3.9 %

Fuel Tech stock opened at $1.03 on Wednesday. The firm’s 50-day simple moving average is $0.99 and its 200 day simple moving average is $1.01. Fuel Tech has a 52 week low of $0.87 and a 52 week high of $1.34. The firm has a market capitalization of $31.63 million, a PE ratio of -51.50 and a beta of 4.25.

Fuel Tech (NASDAQ:FTEK) last issued its quarterly earnings data 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). The business had revenue of $5.28 million for the quarter, compared to analysts’ expectations of $5.63 million. Fuel Tech had a negative return on equity of 1.37% and a negative net margin of 2.29%. During the same period last year, the business earned ($0.02) earnings per share. On average, research analysts expect that Fuel Tech will post -0.03 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Renaissance Technologies LLC boosted its stake 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 worth $1,092,000 after buying an additional 138,169 shares during the last quarter. Peapod Lane Capital LLC purchased a new stake in Fuel Tech in the fourth quarter valued at approximately $1,027,000. Millennium Management LLC increased its position 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. XTX Topco Ltd purchased a new position in Fuel Tech during the fourth quarter worth approximately $27,000. Finally, Virtu Financial LLC acquired a new position in shares of Fuel Tech in the 4th quarter valued at $26,000. Hedge funds and other 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.