Fuel Tech (NASDAQ:FTEK) Stock Price Passes Above 200-Day Moving Average – Time to Sell?

Fuel Tech, Inc. (NASDAQ:FTEK) shares crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $1.49 and traded as high as $1.53. Fuel Tech shares last traded at $1.51, with a volume of 204,797 shares changing hands.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. Zacks Research downgraded shares of Fuel Tech from a “hold” rating to a “strong sell” rating in a report on Friday, May 8th. Weiss Ratings raised shares of Fuel Tech from a “sell (e+)” rating to a “sell (d-)” rating in a report on Monday, May 18th. Finally, Wall Street Zen downgraded shares of Fuel Tech from a “hold” rating to a “sell” rating in a report on Saturday, May 9th. Two research analysts have rated the stock with a Sell rating, According to data from MarketBeat.com, the stock has a consensus rating of “Sell”.

Fuel Tech Stock Performance

The stock’s fifty day moving average is $1.37 and its 200 day moving average is $1.49. The stock has a market cap of $47.07 million, a P/E ratio of -16.78 and a beta of 1.38.

Fuel Tech (NASDAQ:FTEK) last announced its quarterly earnings results on Tuesday, May 5th. The industrial products company reported ($0.04) EPS for the quarter. Fuel Tech had a negative net margin of 11.15% and a negative return on equity of 7.34%. The business had revenue of $6.08 million during the quarter, compared to the consensus estimate of $7.62 million. Equities research analysts predict that Fuel Tech, Inc. will post -0.12 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Renaissance Technologies LLC lifted its holdings in shares of Fuel Tech by 22.6% in the 1st quarter. Renaissance Technologies LLC now owns 1,407,806 shares of the industrial products company’s stock valued at $1,718,000 after acquiring an additional 259,811 shares during the last quarter. Grace & White Inc. NY lifted its holdings in shares of Fuel Tech by 3.7% in the 1st quarter. Grace & White Inc. NY now owns 1,541,307 shares of the industrial products company’s stock valued at $1,880,000 after acquiring an additional 55,424 shares during the last quarter. Virtu Financial LLC bought a new position in shares of Fuel Tech in the 4th quarter valued at about $27,000. Beartown Capital Management LLC bought a new position in shares of Fuel Tech in the 4th quarter valued at about $250,000. Finally, XTX Topco Ltd lifted its holdings in shares of Fuel Tech by 218.3% in the 4th quarter. XTX Topco Ltd now owns 178,303 shares of the industrial products company’s stock valued at $278,000 after acquiring an additional 122,291 shares during the last quarter. Institutional investors own 20.94% of the company’s stock.

About Fuel Tech

Fuel Tech, Inc (NASDAQ: FTEK) is a specialty technology and engineering company focused on developing and supplying clean air solutions for the power generation and industrial markets. The company designs, manufactures and markets proprietary chemical reagents and process control systems that help customers reduce emissions of nitrogen oxides (NOx), mercury and other air pollutants. Its technology platform combines advanced process modeling, plant optimization software and field testing services to help utilities and industrial facilities comply with environmental regulations and improve operational efficiency.

Fuel Tech’s core product lines include selective catalytic reduction (SCR) optimization systems, activated carbon injection solutions for mercury capture, and sorbent enhancement additives for flue gas desulfurization processes.