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

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

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

Fuel Tech Stock Performance

Shares of FTEK stock opened at $0.97 on Tuesday. The firm’s 50 day moving average price is $0.99 and its 200-day moving average price is $1.01. Fuel Tech has a one year low of $0.87 and a one year high of $1.34. The firm has a market cap of $29.66 million, a P/E ratio of -48.30 and a beta of 4.25.

Fuel Tech (NASDAQ:FTEK) last issued its quarterly earnings data on Tuesday, March 4th. The industrial products company reported ($0.06) EPS for the quarter, missing the consensus estimate of ($0.03) by ($0.03). Fuel Tech had a negative return on equity of 1.37% and a negative net margin of 2.29%. The company had revenue of $5.28 million during the quarter, compared to analyst estimates of $5.63 million. During the same quarter in the prior year, the company posted ($0.02) earnings per share. As a group, research analysts predict that Fuel Tech will post -0.03 EPS for the current fiscal year.

Institutional Investors Weigh In On Fuel Tech

Several large investors have recently added to or reduced their stakes in FTEK. Virtu Financial LLC purchased a new stake in shares of Fuel Tech in the 4th quarter valued at approximately $26,000. XTX Topco Ltd purchased a new stake in shares of Fuel Tech in the 4th quarter valued at approximately $27,000. Millennium Management LLC increased its position in shares of Fuel Tech by 70.1% in 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 during the last quarter. Peapod Lane Capital LLC purchased a new stake in shares of Fuel Tech in the 4th quarter valued at approximately $1,027,000. Finally, Renaissance Technologies LLC increased its position in shares of 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 valued at $1,092,000 after purchasing an additional 138,169 shares during the last quarter. 20.94% of the stock is owned by hedge funds and other institutional investors.

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.