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

Research analysts at StockNews.com initiated coverage on shares of Fuel Tech (NASDAQ:FTEK) in a research note issued on Friday. The brokerage set a “hold” rating on the industrial products company’s stock.

Separately, HC Wainwright reissued a “buy” rating and set a $4.00 price objective on shares of Fuel Tech in a research report on Thursday, May 9th.

Fuel Tech Stock Performance

Shares of FTEK stock opened at $1.06 on Friday. Fuel Tech has a one year low of $0.96 and a one year high of $1.35. The company’s 50-day moving average is $1.15 and its 200 day moving average is $1.12. The company has a market capitalization of $32.06 million, a price-to-earnings ratio of -35.17 and a beta of 4.16.

Fuel Tech (NASDAQ:FTEK) last announced its quarterly earnings data on Tuesday, May 7th. The industrial products company reported $0.01 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 company had revenue of $4.96 million for the quarter, compared to the consensus estimate of $6.73 million. As a group, research analysts predict that Fuel Tech will post -0.02 earnings per share for the current fiscal year.

Institutional Trading of Fuel Tech

A number of institutional investors have recently made changes to their positions in FTEK. Acuitas Investments LLC boosted its holdings in shares of Fuel Tech by 36.9% during the 4th quarter. Acuitas Investments LLC now owns 822,613 shares of the industrial products company’s stock valued at $864,000 after acquiring an additional 221,932 shares during the last quarter. Grace & White Inc. NY boosted its holdings in shares of Fuel Tech by 6.9% during 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 acquiring an additional 120,527 shares during the last quarter. Essex Investment Management Co. LLC boosted its holdings 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 acquiring an additional 119,763 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. purchased a new position in shares of Fuel Tech in the fourth quarter worth approximately $26,000. Finally, Marquette Asset Management LLC boosted its holdings in shares of Fuel Tech by 14.7% in the first quarter. Marquette Asset Management LLC now owns 141,189 shares of the industrial products company’s stock worth $171,000 after buying an additional 18,133 shares during the last quarter. Hedge funds and other 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.