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

StockNews.com initiated coverage on shares of Fuel Tech (NASDAQ:FTEK) in a report issued on Saturday morning. The firm issued 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 Price Performance

NASDAQ FTEK opened at $0.99 on Friday. The business has a 50 day moving average price of $0.98 and a 200 day moving average price of $1.01. The company has a market capitalization of $30.40 million, a P/E ratio of -49.50 and a beta of 4.11. Fuel Tech has a 1-year low of $0.87 and a 1-year 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 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 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Virtu Financial LLC purchased a new stake in shares of Fuel Tech in the fourth quarter valued at $26,000. XTX Topco Ltd acquired a new stake in Fuel Tech in the 4th quarter worth about $27,000. Millennium Management LLC grew its holdings in Fuel Tech by 70.1% in the 4th quarter. Millennium Management LLC now owns 58,571 shares of the industrial products company’s stock valued at $62,000 after buying an additional 24,129 shares during the period. Peapod Lane Capital LLC purchased a new position in shares of Fuel Tech during the 4th quarter worth about $1,027,000. Finally, Renaissance Technologies LLC lifted its holdings in shares of Fuel Tech by 15.3% during the 4th 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. 20.94% of the stock is currently owned by institutional investors and hedge funds.

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.