Fuel Tech (NASDAQ:FTEK) Coverage Initiated by Analysts at Wall Street Zen

Analysts at Wall Street Zen initiated coverage on shares of Fuel Tech (NASDAQ:FTEK) in a note issued to investors on Wednesday. The brokerage 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 Thursday, March 6th.

Fuel Tech Stock Up 5.0%

Shares of Fuel Tech stock opened at $1.68 on Wednesday. Fuel Tech has a 12 month low of $0.87 and a 12 month high of $1.80. The stock has a market cap of $51.71 million, a PE ratio of -84.00 and a beta of 4.38. The business has a fifty day simple moving average of $1.03 and a 200-day simple moving average of $1.02.

Fuel Tech (NASDAQ:FTEK) last released its quarterly earnings data on Monday, May 12th. The industrial products company reported ($0.02) EPS for the quarter, hitting analysts’ consensus estimates of ($0.02). Fuel Tech had a negative return on equity of 1.37% and a negative net margin of 2.29%. The firm had revenue of $6.38 million for the quarter, compared to the consensus estimate of $6.64 million. Analysts expect that Fuel Tech will post -0.03 EPS for the current fiscal year.

Hedge Funds Weigh In On Fuel Tech

A number of hedge funds and other institutional investors have recently bought and sold shares of FTEK. Essex Investment Management Co. LLC raised its position in shares of Fuel Tech by 11.8% in the 1st quarter. Essex Investment Management Co. LLC now owns 124,241 shares of the industrial products company’s stock valued at $130,000 after acquiring an additional 13,106 shares during the period. Grace & White Inc. NY boosted its position in Fuel Tech by 1.7% during the first quarter. Grace & White Inc. NY now owns 1,899,149 shares of the industrial products company’s stock valued at $1,994,000 after purchasing an additional 31,022 shares during the last quarter. Millennium Management LLC increased its holdings 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 worth $62,000 after buying an additional 24,129 shares during the last quarter. XTX Topco Ltd acquired a new position in shares of Fuel Tech during the 4th quarter worth about $27,000. Finally, Renaissance Technologies LLC increased its position in Fuel Tech by 15.3% during the fourth quarter. Renaissance Technologies LLC now owns 1,039,609 shares of the industrial products company’s stock worth $1,092,000 after buying an additional 138,169 shares during the last quarter. 20.94% of the stock is owned by 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.