StockNews.com Initiates Coverage on Fuel Tech (NASDAQ:FTEK)

StockNews.com assumed coverage on shares of Fuel Tech (NASDAQ:FTEK) in a report issued on Sunday. 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 Trading Up 0.2 %

Shares of FTEK opened at $0.97 on Friday. Fuel Tech has a 12 month low of $0.87 and a 12 month high of $1.34. The stock’s 50 day moving average is $0.98 and its two-hundred day moving average is $1.01. The firm has a market cap of $29.77 million, a P/E ratio of -48.38 and a beta of 4.11.

Fuel Tech (NASDAQ:FTEK) last issued its quarterly earnings results on Tuesday, March 4th. The industrial products company reported ($0.06) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $5.28 million during the quarter, compared to analyst estimates of $5.63 million. During the same period in the prior year, the firm earned ($0.02) earnings per share. Equities research analysts forecast that Fuel Tech will post -0.03 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Peapod Lane Capital LLC acquired a new position in shares of Fuel Tech in the 4th quarter valued at $1,027,000. Virtu Financial LLC acquired a new position in shares of Fuel Tech during the 4th quarter worth approximately $26,000. Renaissance Technologies LLC raised its position in shares of 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 worth $1,092,000 after purchasing an additional 138,169 shares during the last quarter. XTX Topco Ltd purchased a new stake in Fuel Tech in the 4th quarter worth approximately $27,000. Finally, Millennium Management LLC grew its stake 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 buying an additional 24,129 shares during the period. Hedge funds and other institutional investors own 20.94% of the company’s stock.

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.