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

by · The Cerbat Gem

StockNews.com began coverage on shares of Fuel Tech (NASDAQ:FTEK – Free Report) in a research note released on Tuesday. The brokerage issued a hold rating on the industrial products company’s stock.

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

Get Our Latest Report on FTEK

Fuel Tech Trading Up 1.1 %

NASDAQ FTEK opened at $0.98 on Tuesday. The firm has a market capitalization of $30.00 million, a P/E ratio of -48.85 and a beta of 4.25. The business has a fifty day simple moving average of $0.99 and a 200 day simple moving average of $1.01. Fuel Tech has a 12 month low of $0.87 and a 12 month high of $1.34.

Fuel Tech (NASDAQ:FTEK – Get Free Report) last released its quarterly earnings results on Tuesday, March 4th. The industrial products company reported ($0.06) EPS for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.03). The company had revenue of $5.28 million during the quarter, compared to analysts’ expectations 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 period in the previous year, the company posted ($0.02) earnings per share. As a group, sell-side analysts predict that Fuel Tech will post -0.03 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Millennium Management LLC grew its stake in shares of Fuel Tech by 70.1% during the 4th 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 during the period. Virtu Financial LLC bought a new position in shares of Fuel Tech during the 4th quarter worth $26,000. XTX Topco Ltd bought a new position in shares of Fuel Tech during the 4th quarter worth $27,000. Renaissance Technologies LLC grew its stake 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. Finally, Peapod Lane Capital LLC bought a new position in shares of Fuel Tech during the 4th quarter worth $1,027,000. Institutional investors own 20.94% of the company’s stock.

Fuel Tech Company Profile

(Get Free Report)

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.

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