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

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

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

Fuel Tech Price Performance

FTEK opened at $1.05 on Wednesday. Fuel Tech has a 1-year low of $0.87 and a 1-year high of $1.34. The business has a 50 day moving average price of $0.99 and a two-hundred day moving average price of $1.01. The company has a market capitalization of $32.24 million, a price-to-earnings ratio of -52.50 and a beta of 4.25.

Fuel Tech (NASDAQ:FTEK) last posted its quarterly earnings results 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 company had revenue of $5.28 million during 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 period in the prior year, the company posted ($0.02) EPS. Equities analysts expect that Fuel Tech will post -0.03 EPS for the current fiscal year.

Hedge Funds Weigh In On Fuel Tech

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Peapod Lane Capital LLC acquired a new stake in shares of Fuel Tech in the fourth quarter worth $1,027,000. Millennium Management LLC raised its position in Fuel Tech by 70.1% during the fourth 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 during the period. XTX Topco Ltd purchased a new stake in Fuel Tech in the 4th quarter worth about $27,000. Renaissance Technologies LLC grew its stake in 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 acquiring an additional 138,169 shares in the last quarter. Finally, Virtu Financial LLC acquired a new position in shares of Fuel Tech in the 4th quarter valued at about $26,000. 20.94% of the stock is currently 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.