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

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

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

Fuel Tech Price Performance

NASDAQ FTEK opened at $1.21 on Friday. The company has a fifty day moving average of $1.19 and a two-hundred day moving average of $1.11. The firm has a market capitalization of $36.77 million, a price-to-earnings ratio of -40.33 and a beta of 4.21. Fuel Tech has a 52 week low of $0.96 and a 52 week high of $1.48.

Fuel Tech (NASDAQ:FTEK) last posted its quarterly earnings data on Monday, March 11th. The industrial products company reported ($0.02) EPS for the quarter, topping the consensus estimate of ($0.03) by $0.01. The company had revenue of $6.35 million during the quarter, compared to analyst estimates of $6.90 million. Fuel Tech had a negative net margin of 3.41% and a negative return on equity of 1.92%. Equities research analysts anticipate that Fuel Tech will post -0.02 EPS for the current year.

Institutional Trading of Fuel Tech

A number of large investors have recently made changes to their positions in FTEK. Acuitas Investments LLC boosted its stake in shares of 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 period. Grace & White Inc. NY boosted its stake in shares of 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 period. Essex Investment Management Co. LLC boosted its stake in shares of 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 period. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in shares of Fuel Tech during the fourth quarter valued at $26,000. Finally, Marquette Asset Management LLC boosted its stake in shares of 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 period. 20.94% of the stock is owned by hedge funds and other institutional investors.

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.