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

StockNews.com initiated coverage on shares of Fuel Tech (NASDAQ:FTEK) in a research note released on Wednesday. The brokerage issued a hold rating on the industrial products company’s stock.

Separately, HC Wainwright reissued a buy rating and set a $4.00 target price on shares of Fuel Tech in a research report on Thursday, May 9th.

Fuel Tech Price Performance

Shares of FTEK stock opened at $1.06 on Wednesday. The stock has a market cap of $32.21 million, a price-to-earnings ratio of -35.33 and a beta of 4.06. Fuel Tech has a fifty-two week low of $0.96 and a fifty-two week high of $1.39. The firm’s 50 day moving average price is $1.16 and its two-hundred day moving average price is $1.12.

Fuel Tech (NASDAQ:FTEK) last posted its earnings results on Tuesday, May 7th. The industrial products company reported $0.01 EPS for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.02. Fuel Tech had a negative net margin of 3.41% and a negative return on equity of 1.92%. The business had revenue of $4.96 million for the quarter, compared to analysts’ expectations of $6.73 million. On average, equities analysts forecast that Fuel Tech will post -0.02 EPS for the current fiscal year.

Institutional Trading of Fuel Tech

A number of hedge funds and other institutional investors have recently made changes to their positions in FTEK. Migdal Insurance & Financial Holdings Ltd. bought a new stake in Fuel Tech during the fourth quarter valued at $26,000. Marquette Asset Management LLC increased its stake in Fuel Tech by 14.7% during the first quarter. Marquette Asset Management LLC now owns 141,189 shares of the industrial products company’s stock valued at $171,000 after purchasing an additional 18,133 shares during the last quarter. Essex Investment Management Co. LLC increased its stake 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 last quarter. Acuitas Investments LLC increased its stake in Fuel Tech by 36.9% during 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 during the last quarter. Finally, Grace & White Inc. NY increased its stake in Fuel Tech by 6.9% during the fourth quarter. Grace & White Inc. NY now owns 1,859,922 shares of the industrial products company’s stock valued at $1,953,000 after purchasing an additional 120,527 shares during 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.