Grace & White Inc. NY Increases Stock Position in Fuel Tech, Inc. (NASDAQ:FTEK)

Grace & White Inc. NY raised its position in shares of Fuel Tech, Inc. (NASDAQ:FTEK) by 6.9% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 1,859,922 shares of the industrial products company’s stock after purchasing an additional 120,527 shares during the quarter. Grace & White Inc. NY owned 0.06% of Fuel Tech worth $1,953,000 at the end of the most recent quarter.

Separately, Migdal Insurance & Financial Holdings Ltd. purchased a new stake in Fuel Tech during the 4th quarter valued at $26,000. Hedge funds and other institutional investors own 20.94% of the company’s stock.

Fuel Tech Stock Up 1.8 %

Shares of FTEK traded up $0.02 during trading hours on Tuesday, reaching $1.15. 15,972 shares of the company traded hands, compared to its average volume of 68,116. The company’s fifty day moving average price is $1.15 and its two-hundred day moving average price is $1.09. The company has a market capitalization of $34.95 million, a price-to-earnings ratio of -23.00 and a beta of 4.34. Fuel Tech, Inc. has a 12 month low of $0.96 and a 12 month high of $1.83.

Fuel Tech (NASDAQ:FTEK) last announced its earnings results on Monday, March 11th. The industrial products company reported ($0.02) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.03) by $0.01. The firm had revenue of $6.35 million for the quarter, compared to analyst estimates of $6.90 million. Fuel Tech had a negative net margin of 5.68% and a negative return on equity of 3.49%. On average, analysts expect that Fuel Tech, Inc. will post -0.03 EPS for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on FTEK. HC Wainwright reissued a “buy” rating and set a $4.00 price target on shares of Fuel Tech in a research report on Wednesday, March 13th. StockNews.com initiated coverage on shares of Fuel Tech in a research report on Tuesday, April 16th. They issued a “hold” rating for the company.

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.