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

Research analysts at StockNews.com initiated coverage on shares of Fuel Tech (NASDAQ:FTEK) in a research note issued to investors on Tuesday. The firm set a “hold” rating on the industrial products company’s stock.

Separately, HC Wainwright reiterated a “buy” rating and set a $4.00 price objective on shares of Fuel Tech in a research note on Wednesday, March 13th.

Fuel Tech Stock Performance

Shares of NASDAQ:FTEK opened at $1.14 on Tuesday. The firm has a market cap of $34.64 million, a PE ratio of -22.80 and a beta of 4.34. The firm’s 50 day simple moving average is $1.15 and its 200-day simple moving average is $1.09. Fuel Tech has a one year low of $0.96 and a one year high of $1.83.

Fuel Tech (NASDAQ:FTEK) last issued its earnings results on Monday, March 11th. The industrial products company reported ($0.02) EPS for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.01. The business had revenue of $6.35 million for the quarter, compared to analyst estimates of $6.90 million. Fuel Tech had a negative net margin of 5.68% and a negative return on equity of 3.49%. Equities research analysts predict 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 modified their holdings of the business. Grace & White Inc. NY boosted its stake in shares of Fuel Tech by 6.9% during the fourth quarter. Grace & White Inc. NY now owns 1,859,922 shares of the industrial products company’s stock valued at $1,953,000 after purchasing an additional 120,527 shares in the last quarter. Renaissance Technologies LLC boosted its stake in Fuel Tech by 5.1% in the first quarter. Renaissance Technologies LLC now owns 864,944 shares of the industrial products company’s stock valued at $1,107,000 after acquiring an additional 42,357 shares in the last quarter. Acuitas Investments LLC boosted its stake in Fuel Tech by 36.9% in the fourth quarter. Acuitas Investments LLC now owns 822,613 shares of the industrial products company’s stock valued at $864,000 after acquiring an additional 221,932 shares in the last quarter. US Bancorp DE boosted its stake in Fuel Tech by 25.2% in the first quarter. US Bancorp DE now owns 304,776 shares of the industrial products company’s stock valued at $442,000 after acquiring an additional 61,300 shares in the last quarter. Finally, Susquehanna International Group LLP boosted its stake in Fuel Tech by 19.2% in the fourth quarter. Susquehanna International Group LLP now owns 70,877 shares of the industrial products company’s stock valued at $90,000 after acquiring an additional 11,437 shares in the last quarter. 20.94% of the stock is currently 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.