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

StockNews.com started coverage on shares of Fuel Tech (NASDAQ:FTEK) in a research note issued to investors on Monday 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 target price on shares of Fuel Tech in a research report on Thursday, March 6th.

Fuel Tech Price Performance

FTEK opened at $0.95 on Monday. The firm has a market capitalization of $29.29 million, a P/E ratio of -47.60 and a beta of 4.38. Fuel Tech has a one year low of $0.87 and a one year high of $1.34. The company has a fifty day moving average price of $0.98 and a 200-day moving average price of $1.00.

Fuel Tech (NASDAQ:FTEK) last announced its 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). The business had revenue of $5.28 million during the quarter, compared to the consensus estimate 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 quarter in the prior year, the company earned ($0.02) earnings per share. On average, analysts expect that Fuel Tech will post -0.03 earnings per share for the current year.

Institutional Investors Weigh In On Fuel Tech

Several hedge funds have recently added to or reduced their stakes in the company. Virtu Financial LLC purchased a new position in shares of Fuel Tech during the 4th quarter valued at about $26,000. XTX Topco Ltd bought a new position in Fuel Tech during the fourth quarter valued at approximately $27,000. Millennium Management LLC raised its stake in shares of 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 acquiring an additional 24,129 shares in the last quarter. Essex Investment Management Co. LLC lifted its holdings in shares of Fuel Tech by 11.8% in the 1st quarter. Essex Investment Management Co. LLC now owns 124,241 shares of the industrial products company’s stock worth $130,000 after acquiring an additional 13,106 shares during the last quarter. Finally, Peapod Lane Capital LLC purchased a new stake in shares of Fuel Tech in the 4th quarter valued at $1,027,000. Institutional investors own 20.94% of the company’s stock.

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.