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

StockNews.com started 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 reaffirmed a buy rating and issued a $4.00 target price on shares of Fuel Tech in a research report on Thursday, May 9th.

Fuel Tech Stock Performance

FTEK stock opened at $1.06 on Wednesday. The firm has a 50 day moving average price of $1.16 and a 200-day moving average price of $1.12. Fuel Tech has a 52-week low of $0.96 and a 52-week high of $1.39. The firm has a market capitalization of $32.21 million, a price-to-earnings ratio of -35.33 and a beta of 4.06.

Fuel Tech (NASDAQ:FTEK) last released its earnings results on Tuesday, May 7th. The industrial products company reported $0.01 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.01) by $0.02. Fuel Tech had a negative net margin of 3.41% and a negative return on equity of 1.92%. The firm had revenue of $4.96 million during the quarter, compared to analyst estimates of $6.73 million. As a group, sell-side analysts forecast that Fuel Tech will post -0.02 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in Fuel Tech in the 4th quarter worth $26,000. Grace & White Inc. NY lifted its stake in 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 worth $1,953,000 after purchasing an additional 120,527 shares in the last quarter. Acuitas Investments LLC lifted its stake in Fuel Tech by 36.9% in the 4th quarter. Acuitas Investments LLC now owns 822,613 shares of the industrial products company’s stock worth $864,000 after purchasing an additional 221,932 shares in the last quarter. Essex Investment Management Co. LLC raised its position in shares of Fuel Tech by 42.6% during the 1st quarter. Essex Investment Management Co. LLC now owns 401,159 shares of the industrial products company’s stock valued at $485,000 after buying an additional 119,763 shares in the last quarter. Finally, Marquette Asset Management LLC lifted its holdings in shares of Fuel Tech by 14.7% in the 1st quarter. Marquette Asset Management LLC now owns 141,189 shares of the industrial products company’s stock valued at $171,000 after acquiring an additional 18,133 shares during the last quarter. 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.