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

Equities researchers at StockNews.com initiated coverage on shares of Fuel Tech (NASDAQ:FTEK) in a research note issued to investors on Wednesday. The firm set 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 research report on Thursday, March 6th.

Fuel Tech Trading Down 0.0 %

FTEK opened at $1.00 on Wednesday. The company has a market cap of $30.70 million, a P/E ratio of -50.00 and a beta of 4.25. The company’s 50 day moving average is $0.99 and its 200-day moving average is $1.01. Fuel Tech has a 1-year low of $0.87 and a 1-year high of $1.34.

Fuel Tech (NASDAQ:FTEK) last announced its quarterly earnings results on Tuesday, March 4th. The industrial products company reported ($0.06) earnings per share (EPS) for the quarter, missing the consensus estimate 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 company had revenue of $5.28 million for the quarter, compared to analyst estimates of $5.63 million. During the same quarter last year, the company posted ($0.02) earnings per share. On average, equities analysts forecast that Fuel Tech will post -0.03 EPS for the current year.

Institutional Investors Weigh In On Fuel Tech

A number of institutional investors have recently added to or reduced their stakes in the business. Virtu Financial LLC acquired a new position in shares of Fuel Tech during the fourth quarter worth $26,000. XTX Topco Ltd bought a new position in Fuel Tech during the 4th quarter worth $27,000. Millennium Management LLC raised its position in 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 purchasing an additional 24,129 shares during the last quarter. Peapod Lane Capital LLC acquired a new position in Fuel Tech during the 4th quarter worth about $1,027,000. Finally, Renaissance Technologies LLC grew its position 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 valued at $1,092,000 after buying an additional 138,169 shares during the last quarter. 20.94% of the stock is owned by institutional investors.

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.