Fuel Tech (NASDAQ:FTEK) Earns Hold Rating from Analysts at StockNews.com

StockNews.com assumed coverage on shares of Fuel Tech (NASDAQ:FTEK) in a research note published on Tuesday morning. The brokerage issued a hold rating on the industrial products company’s stock.

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

Fuel Tech Price Performance

NASDAQ:FTEK opened at $0.97 on Tuesday. Fuel Tech has a 1 year low of $0.87 and a 1 year high of $1.34. The stock’s 50 day simple moving average is $0.99 and its two-hundred day simple moving average is $1.01. The company has a market cap of $29.65 million, a price-to-earnings ratio of -48.29 and a beta of 4.25.

Fuel Tech (NASDAQ:FTEK) last released its quarterly earnings data on Tuesday, March 4th. The industrial products company reported ($0.06) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.03). Fuel Tech had a negative return on equity of 1.37% and a negative net margin of 2.29%. The firm had revenue of $5.28 million during the quarter, compared to the consensus estimate of $5.63 million. During the same period in the previous year, the firm earned ($0.02) EPS. As a group, analysts anticipate that Fuel Tech will post -0.03 EPS for the current year.

Hedge Funds Weigh In On Fuel Tech

A number of institutional investors and hedge funds have recently modified their holdings of FTEK. Peapod Lane Capital LLC purchased a new position in shares of Fuel Tech in the 4th quarter worth approximately $1,027,000. Virtu Financial LLC purchased a new position in shares of Fuel Tech in the 4th quarter worth approximately $26,000. Renaissance Technologies LLC boosted its holdings in shares of Fuel Tech by 15.3% in the 4th quarter. Renaissance Technologies LLC now owns 1,039,609 shares of the industrial products company’s stock worth $1,092,000 after purchasing an additional 138,169 shares during the period. XTX Topco Ltd purchased a new position in shares of Fuel Tech in the 4th quarter worth approximately $27,000. Finally, Millennium Management LLC boosted its holdings in shares of Fuel Tech by 70.1% in the 4th quarter. Millennium Management LLC now owns 58,571 shares of the industrial products company’s stock worth $62,000 after purchasing an additional 24,129 shares during the period. Hedge funds and other 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.