Fuel Tech (NASDAQ:FTEK) Coverage Initiated at StockNews.com

StockNews.com began coverage on shares of Fuel Tech (NASDAQ:FTEK) in a research report sent to investors on Tuesday. The firm issued a hold rating on the industrial products company’s stock.

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

Fuel Tech Stock Up 1.1 %

Shares of NASDAQ FTEK opened at $0.98 on Tuesday. Fuel Tech has a 52 week low of $0.87 and a 52 week high of $1.34. The business has a 50-day simple moving average of $0.99 and a two-hundred day simple moving average of $1.01. The company has a market cap of $30.00 million, a P/E ratio of -48.85 and a beta of 4.25.

Fuel Tech (NASDAQ:FTEK) last issued its quarterly earnings results 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). The business had revenue of $5.28 million for the quarter, compared to the consensus estimate of $5.63 million. Fuel Tech had a negative net margin of 2.29% and a negative return on equity of 1.37%. During the same quarter last year, the business posted ($0.02) EPS. Equities research analysts anticipate that Fuel Tech will post -0.03 EPS for the current year.

Institutional Trading of Fuel Tech

Large investors have recently modified their holdings of the business. Virtu Financial LLC bought a new stake in shares of Fuel Tech during the 4th quarter valued at about $26,000. XTX Topco Ltd purchased a new position in shares of Fuel Tech during the 4th quarter valued at about $27,000. Millennium Management LLC raised its holdings in shares of Fuel Tech by 70.1% during the 4th quarter. Millennium Management LLC now owns 58,571 shares of the industrial products company’s stock valued at $62,000 after buying an additional 24,129 shares in the last quarter. Peapod Lane Capital LLC purchased a new position in shares of Fuel Tech during the 4th quarter valued at about $1,027,000. Finally, Renaissance Technologies LLC raised its holdings in shares of Fuel Tech by 15.3% during 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 in the last quarter. 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.