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

StockNews.com assumed coverage on shares of Fuel Tech (NASDAQ:FTEK) in a research report issued to clients and investors on Monday. The brokerage set a “hold” rating on the industrial products company’s stock.

Separately, HC Wainwright reiterated a “buy” rating and set a $4.00 price target on shares of Fuel Tech in a research note on Thursday.

Fuel Tech Price Performance

Shares of NASDAQ:FTEK opened at $1.00 on Monday. The business’s 50-day moving average is $1.00 and its 200 day moving average is $1.02. Fuel Tech has a 1 year low of $0.87 and a 1 year high of $1.34. The firm has a market capitalization of $30.71 million, a P/E ratio of -50.00 and a beta of 4.25.

Fuel Tech (NASDAQ:FTEK) last announced its earnings results on Tuesday, March 4th. The industrial products company reported ($0.06) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.03) by ($0.03). Fuel Tech had a negative net margin of 2.29% and a negative return on equity of 1.37%. The business had revenue of $5.28 million for the quarter, compared to analyst estimates of $5.63 million. During the same period in the prior year, the company earned ($0.02) earnings per share. On average, analysts expect that Fuel Tech will post -0.03 EPS for the current year.

Institutional Trading of Fuel Tech

Large investors have recently added to or reduced their stakes in the company. Virtu Financial LLC purchased a new stake in Fuel Tech during the 4th quarter valued at about $26,000. XTX Topco Ltd purchased a new stake in Fuel Tech during the 4th quarter valued at about $27,000. Millennium Management LLC grew its stake in 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 purchasing an additional 24,129 shares during the last quarter. Peapod Lane Capital LLC purchased a new stake in Fuel Tech during the 4th quarter valued at about $1,027,000. Finally, Renaissance Technologies LLC grew its stake in 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 valued at $1,092,000 after purchasing an additional 138,169 shares during 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.