Fuel Tech (NASDAQ:FTEK) Earns Hold Rating from Analysts at StockNews.com

Investment analysts at StockNews.com began coverage on shares of Fuel Tech (NASDAQ:FTEK) in a note issued to investors on Sunday. 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 price objective on shares of Fuel Tech in a report on Thursday, May 9th.

Fuel Tech Trading Up 4.2 %

Shares of Fuel Tech stock opened at $1.18 on Friday. The firm has a market capitalization of $35.86 million, a PE ratio of -39.33 and a beta of 4.21. Fuel Tech has a 12 month low of $0.96 and a 12 month high of $1.48. The business’s 50-day moving average price is $1.20 and its 200-day moving average price is $1.12.

Fuel Tech (NASDAQ:FTEK) last posted its quarterly earnings results 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. Fuel Tech had a negative net margin of 3.41% and a negative return on equity of 1.92%. The firm had revenue of $6.35 million for the quarter, compared to the consensus estimate of $6.90 million. As a group, analysts predict that Fuel Tech will post -0.02 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Fuel Tech

A number of hedge funds have recently modified their holdings of the company. Migdal Insurance & Financial Holdings Ltd. purchased a new position in Fuel Tech during the 4th quarter valued at about $26,000. Marquette Asset Management LLC increased 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 buying an additional 18,133 shares during the period. Essex Investment Management Co. LLC raised its holdings 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 acquiring an additional 119,763 shares in the last quarter. Acuitas Investments LLC lifted its stake in Fuel Tech by 36.9% in the fourth quarter. Acuitas Investments LLC now owns 822,613 shares of the industrial products company’s stock worth $864,000 after acquiring an additional 221,932 shares during the period. Finally, Grace & White Inc. NY boosted its holdings in Fuel Tech by 6.9% in 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 acquiring an additional 120,527 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.