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

StockNews.com began coverage on shares of Fuel Tech (NASDAQ:FTEK) in a research note published on Wednesday. The firm issued a hold rating on the industrial products company’s stock.

Separately, HC Wainwright restated a buy rating and set a $4.00 price objective on shares of Fuel Tech in a research report on Wednesday, March 13th.

Fuel Tech Price Performance

Shares of NASDAQ FTEK opened at $1.15 on Wednesday. The stock’s 50-day simple moving average is $1.15 and its two-hundred day simple moving average is $1.09. Fuel Tech has a twelve month low of $0.96 and a twelve month high of $1.61. The firm has a market capitalization of $34.95 million, a P/E ratio of -23.00 and a beta of 4.34.

Fuel Tech (NASDAQ:FTEK) last issued its quarterly earnings data on Monday, March 11th. The industrial products company reported ($0.02) EPS for the quarter, topping the consensus estimate of ($0.03) by $0.01. The company had revenue of $6.35 million during the quarter, compared to analyst estimates of $6.90 million. Fuel Tech had a negative return on equity of 3.49% and a negative net margin of 5.68%. As a group, research analysts anticipate that Fuel Tech will post -0.03 EPS for the current fiscal year.

Hedge Funds Weigh In On Fuel Tech

Large investors have recently modified their holdings of the company. Acuitas Investments LLC boosted its stake in Fuel Tech by 36.9% in the fourth quarter. Acuitas Investments LLC now owns 822,613 shares of the industrial products company’s stock worth $864,000 after buying an additional 221,932 shares in the last quarter. Grace & White Inc. NY boosted its stake in shares of Fuel Tech by 6.9% in the 4th quarter. Grace & White Inc. NY now owns 1,859,922 shares of the industrial products company’s stock valued at $1,953,000 after purchasing an additional 120,527 shares in the last quarter. Finally, Migdal Insurance & Financial Holdings Ltd. bought a new position in shares of Fuel Tech during the 4th quarter valued at $26,000. 20.94% of the stock is owned by hedge funds and other institutional investors.

About Fuel Tech

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.