Analysts at StockNews.com started coverage on shares of Fuel Tech (NASDAQ:FTEK – Get Free Report) 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 restated a “buy” rating and issued a $4.00 price objective on shares of Fuel Tech in a research report on Thursday, March 6th.
View Our Latest Analysis on FTEK
Fuel Tech Stock Up 4.1%
Shares of FTEK opened at $1.54 on Wednesday. The company has a market capitalization of $47.40 million, a price-to-earnings ratio of -77.00 and a beta of 4.38. Fuel Tech has a 52 week low of $0.87 and a 52 week high of $1.65. The stock’s 50-day moving average price is $1.00 and its 200-day moving average price is $1.01.
Fuel Tech (NASDAQ:FTEK – Get Free Report) last released its quarterly earnings data on Monday, May 12th. The industrial products company reported ($0.02) EPS for the quarter, hitting the consensus estimate of ($0.02). The business had revenue of $6.38 million for the quarter, compared to analyst estimates of $6.64 million. Fuel Tech had a negative return on equity of 1.37% and a negative net margin of 2.29%. As a group, equities analysts anticipate that Fuel Tech will post -0.03 EPS for the current fiscal year.
Institutional Trading of Fuel Tech
Hedge funds and other institutional investors have recently modified their holdings of the stock. Renaissance Technologies LLC increased its position in shares of Fuel Tech by 15.3% during the fourth quarter. Renaissance Technologies LLC now owns 1,039,609 shares of the industrial products company’s stock valued at $1,092,000 after acquiring an additional 138,169 shares during the last quarter. Virtu Financial LLC acquired a new position in shares of Fuel Tech in the 4th quarter worth approximately $26,000. XTX Topco Ltd purchased a new position in shares of Fuel Tech during the 4th quarter worth approximately $27,000. Peapod Lane Capital LLC acquired a new stake in Fuel Tech in the 4th quarter valued at approximately $1,027,000. Finally, Essex Investment Management Co. LLC raised its position in Fuel Tech by 11.8% in the first quarter. Essex Investment Management Co. LLC now owns 124,241 shares of the industrial products company’s stock valued at $130,000 after purchasing an additional 13,106 shares during the period. 20.94% of the stock is owned by institutional investors and hedge funds.
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.
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