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

Analysts at StockNews.com assumed coverage on shares of Fuel Tech (NASDAQ:FTEK) in a report issued on Tuesday. 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 price target on shares of Fuel Tech in a research note on Thursday, March 6th.

Fuel Tech Stock Down 1.5 %

Shares of NASDAQ:FTEK opened at $0.97 on Tuesday. The business has a fifty day simple moving average of $0.99 and a 200-day simple moving average of $1.01. Fuel Tech has a 52 week low of $0.87 and a 52 week high of $1.34. The company has a market cap of $29.64 million, a P/E ratio of -48.26 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) EPS for the quarter, missing the consensus estimate of ($0.03) by ($0.03). The business had revenue of $5.28 million during the quarter, compared to analysts’ expectations 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 quarter last year, the firm earned ($0.02) EPS. Sell-side analysts expect that Fuel Tech will post -0.03 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Fuel Tech

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Virtu Financial LLC acquired a new position in shares of Fuel Tech in the 4th quarter valued at about $26,000. XTX Topco Ltd acquired a new position in Fuel Tech during the fourth quarter valued at approximately $27,000. Millennium Management LLC lifted 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 in the last quarter. Peapod Lane Capital LLC purchased a new stake in Fuel Tech during the fourth quarter worth approximately $1,027,000. Finally, Renaissance Technologies LLC increased its position in shares of Fuel Tech by 15.3% in the fourth quarter. Renaissance Technologies LLC now owns 1,039,609 shares of the industrial products company’s stock worth $1,092,000 after acquiring an additional 138,169 shares in the last quarter. 20.94% of the stock is currently owned by institutional investors and hedge funds.

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.