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

Equities research analysts at StockNews.com assumed coverage on shares of Fuel Tech (NASDAQ:FTEK) in a report issued on Thursday. 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 price objective on shares of Fuel Tech in a research report on Wednesday, March 13th.

Fuel Tech Stock Performance

Fuel Tech stock remained flat at $1.25 on Thursday. The company’s stock had a trading volume of 27,736 shares, compared to its average volume of 54,524. The company’s fifty day moving average is $1.17 and its two-hundred day moving average is $1.10. The stock has a market capitalization of $37.99 million, a P/E ratio of -25.00 and a beta of 4.21. Fuel Tech has a one year low of $0.96 and a one year high of $1.48.

Fuel Tech (NASDAQ:FTEK) last issued its quarterly earnings results on Monday, March 11th. The industrial products company reported ($0.02) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.03) by $0.01. Fuel Tech had a negative net margin of 5.68% and a negative return on equity of 3.49%. The business had revenue of $6.35 million for the quarter, compared to the consensus estimate of $6.90 million. As a group, equities research analysts forecast that Fuel Tech will post -0.03 earnings per share for the current year.

Hedge Funds Weigh In On Fuel Tech

Hedge funds have recently added to or reduced their stakes in the stock. Migdal Insurance & Financial Holdings Ltd. bought a new stake in shares of Fuel Tech in the 4th quarter valued at about $26,000. Essex Investment Management Co. LLC grew its holdings in Fuel Tech by 42.6% during the first quarter. Essex Investment Management Co. LLC now owns 401,159 shares of the industrial products company’s stock valued at $485,000 after purchasing an additional 119,763 shares during the period. Acuitas Investments LLC increased its stake in Fuel Tech by 36.9% in the fourth quarter. Acuitas Investments LLC now owns 822,613 shares of the industrial products company’s stock valued at $864,000 after purchasing an additional 221,932 shares in the last quarter. Finally, Grace & White Inc. NY raised its holdings in Fuel Tech by 1.5% in the third quarter. Grace & White Inc. NY now owns 1,739,395 shares of the industrial products company’s stock worth $2,052,000 after purchasing an additional 25,462 shares during the period. Institutional investors and hedge funds 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.