Fuel Tech (NASDAQ:FTEK) Stock Passes Above Two Hundred Day Moving Average – Here’s Why

Shares of Fuel Tech, Inc. (NASDAQ:FTEK) passed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $1.44 and traded as high as $2.35. Fuel Tech shares last traded at $1.99, with a volume of 7,685,689 shares changing hands.

Analyst Ratings Changes

A number of brokerages have weighed in on FTEK. Wall Street Zen cut Fuel Tech from a “hold” rating to a “sell” rating in a research report on Saturday, May 9th. Zacks Research downgraded Fuel Tech from a “hold” rating to a “strong sell” rating in a research note on Friday, May 8th. Finally, Weiss Ratings raised Fuel Tech from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Monday, June 15th. Two investment analysts have rated the stock with a Sell rating, According to MarketBeat.com, the company currently has an average rating of “Sell”.

Fuel Tech Trading Up 29.2%

The company’s fifty day moving average is $1.44 and its 200-day moving average is $1.44. The firm has a market capitalization of $62.03 million, a P/E ratio of -22.11 and a beta of 1.34.

Fuel Tech (NASDAQ:FTEK) last posted its earnings results on Tuesday, May 5th. The industrial products company reported ($0.04) earnings per share (EPS) for the quarter. The firm had revenue of $6.08 million during the quarter, compared to analyst estimates of $7.62 million. Fuel Tech had a negative net margin of 11.15% and a negative return on equity of 7.34%. On average, equities research analysts anticipate that Fuel Tech, Inc. will post -0.12 EPS for the current year.

Institutional Investors Weigh In On Fuel Tech

A number of hedge funds have recently bought and sold shares of the company. Renaissance Technologies LLC grew its position in shares of Fuel Tech by 22.6% in the first quarter. Renaissance Technologies LLC now owns 1,407,806 shares of the industrial products company’s stock valued at $1,718,000 after purchasing an additional 259,811 shares during the last quarter. Mercuria Capital Strategies LLC acquired a new position in shares of Fuel Tech during the 3rd quarter worth about $720,000. Beartown Capital Management LLC acquired a new position in shares of Fuel Tech during the 4th quarter worth about $250,000. XTX Topco Ltd lifted its position in shares of Fuel Tech by 218.3% during the 4th quarter. XTX Topco Ltd now owns 178,303 shares of the industrial products company’s stock worth $278,000 after purchasing an additional 122,291 shares during the last quarter. Finally, Marshall Wace LLP bought a new stake in Fuel Tech during the 4th quarter valued at approximately $126,000. 20.94% of the stock is currently owned by institutional investors.

Fuel Tech Company Profile

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.