Fuel Tech (NASDAQ:FTEK) Stock Price Passes Above Two Hundred Day Moving Average – What’s Next?

Fuel Tech, Inc. (NASDAQ:FTEK) crossed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $1.10 and traded as high as $1.88. Fuel Tech shares last traded at $1.83, with a volume of 108,752 shares changing hands.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on FTEK. Wall Street Zen began coverage on Fuel Tech in a research report on Wednesday, May 21st. They set a “hold” rating for the company. HC Wainwright restated a “buy” rating and set a $4.00 target price on shares of Fuel Tech in a research note on Thursday, March 6th.

Fuel Tech Price Performance

The stock has a market capitalization of $56.32 million, a price-to-earnings ratio of -91.50 and a beta of 4.48. The firm has a fifty day moving average of $1.28 and a 200 day moving average of $1.10.

Fuel Tech (NASDAQ:FTEK) last announced 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. Research analysts predict that Fuel Tech, Inc. will post -0.03 EPS for the current year.

Institutional Investors Weigh In On Fuel Tech

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Grace & White Inc. NY grew its stake in shares of Fuel Tech by 1.7% in 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 buying an additional 31,022 shares in the last quarter. Renaissance Technologies LLC grew its stake 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 valued at $1,092,000 after buying an additional 138,169 shares in the last quarter. Essex Investment Management Co. LLC grew its stake in Fuel Tech by 11.8% during the 1st quarter. Essex Investment Management Co. LLC now owns 124,241 shares of the industrial products company’s stock worth $130,000 after purchasing an additional 13,106 shares in the last quarter. 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 worth $62,000 after purchasing an additional 24,129 shares in the last quarter. Finally, XTX Topco Ltd acquired a new position in Fuel Tech during the 4th quarter worth $27,000. Hedge funds and other institutional investors own 20.94% of the company’s stock.

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.