Fuel Tech (NASDAQ:FTEK) Now Covered by StockNews.com

Equities research analysts at StockNews.com began coverage on shares of Fuel Tech (NASDAQ:FTEK) in a research note issued on Thursday. The brokerage set a “hold” rating on the industrial products company’s stock.

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

Fuel Tech Stock Performance

Shares of FTEK opened at $0.94 on Thursday. The stock has a 50-day moving average of $0.98 and a two-hundred day moving average of $1.01. The stock has a market cap of $28.97 million, a P/E ratio of -47.17 and a beta of 4.25. Fuel Tech has a one year low of $0.87 and a one year high of $1.34.

Fuel Tech (NASDAQ:FTEK) last announced its quarterly earnings data 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). The firm had revenue of $5.28 million during the quarter, compared to analysts’ expectations of $5.63 million. Fuel Tech had a negative return on equity of 1.37% and a negative net margin of 2.29%. During the same quarter in the previous year, the business earned ($0.02) earnings per share. Analysts predict that Fuel Tech will post -0.03 EPS for the current fiscal year.

Hedge Funds Weigh In On Fuel Tech

A number of institutional investors have recently modified their holdings of the stock. Peapod Lane Capital LLC purchased a new stake in shares of Fuel Tech in the fourth quarter worth about $1,027,000. Virtu Financial LLC acquired a new position in Fuel Tech in the fourth quarter valued at approximately $26,000. Renaissance Technologies LLC boosted its position in 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 worth $1,092,000 after purchasing an additional 138,169 shares in the last quarter. XTX Topco Ltd acquired a new stake in shares of Fuel Tech during the 4th quarter worth approximately $27,000. Finally, Millennium Management LLC increased 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 purchasing an additional 24,129 shares in the last quarter. Hedge funds and other 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.