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

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

Separately, HC Wainwright reiterated a “buy” rating and issued a $4.00 target price on shares of Fuel Tech in a research note on Wednesday, March 13th.

Fuel Tech Stock Up 1.8 %

FTEK opened at $1.12 on Tuesday. The company has a market capitalization of $34.04 million, a price-to-earnings ratio of -22.40 and a beta of 4.34. The firm has a 50-day moving average price of $1.15 and a 200-day moving average price of $1.09. Fuel Tech has a twelve month low of $0.96 and a twelve month high of $1.83.

Fuel Tech (NASDAQ:FTEK) last posted its earnings results on Monday, March 11th. The industrial products company reported ($0.02) earnings per share for the quarter, topping the consensus estimate of ($0.03) by $0.01. The firm had revenue of $6.35 million during the quarter, compared to the consensus estimate of $6.90 million. Fuel Tech had a negative net margin of 5.68% and a negative return on equity of 3.49%. On average, sell-side analysts expect that Fuel Tech will post -0.03 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Fuel Tech

Several hedge funds have recently bought and sold shares of FTEK. Migdal Insurance & Financial Holdings Ltd. purchased a new position in Fuel Tech during the fourth quarter valued at approximately $26,000. Jane Street Group LLC grew its stake in Fuel Tech by 107.3% during the third quarter. Jane Street Group LLC now owns 22,731 shares of the industrial products company’s stock valued at $27,000 after acquiring an additional 11,765 shares in the last quarter. Charles Schwab Investment Management Inc. purchased a new position in Fuel Tech during the first quarter valued at approximately $32,000. Two Sigma Securities LLC purchased a new position in Fuel Tech during the second quarter valued at approximately $32,000. Finally, Virtu Financial LLC grew its stake in Fuel Tech by 150.2% during the fourth quarter. Virtu Financial LLC now owns 26,898 shares of the industrial products company’s stock valued at $34,000 after acquiring an additional 16,147 shares in the last quarter. Hedge funds and other 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.