Fuel Tech (NASDAQ:FTEK) Research Coverage Started at StockNews.com

StockNews.com began coverage on shares of Fuel Tech (NASDAQ:FTEK) in a research note issued to investors on Tuesday morning. The firm issued a hold rating on the industrial products company’s stock.

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

Fuel Tech Price Performance

NASDAQ:FTEK opened at $1.12 on Tuesday. The company has a market capitalization of $34.04 million, a PE ratio of -22.40 and a beta of 4.34. Fuel Tech has a 52-week low of $0.96 and a 52-week high of $1.83. The stock’s 50 day moving average price is $1.15 and its 200 day moving average price is $1.09.

Fuel Tech (NASDAQ:FTEK) last posted its quarterly earnings data on Monday, March 11th. The industrial products company reported ($0.02) earnings per share for the quarter, beating the consensus estimate of ($0.03) by $0.01. The business had revenue of $6.35 million during the quarter, compared to the consensus estimate of $6.90 million. Fuel Tech had a negative return on equity of 3.49% and a negative net margin of 5.68%. As a group, sell-side analysts anticipate that Fuel Tech will post -0.03 EPS for the current fiscal year.

Institutional Trading of Fuel Tech

A number of hedge funds have recently added to or reduced their stakes in the stock. Jane Street Group LLC lifted its holdings in shares of Fuel Tech by 107.3% during the third quarter. Jane Street Group LLC now owns 22,731 shares of the industrial products company’s stock worth $27,000 after purchasing an additional 11,765 shares during the period. Two Sigma Securities LLC purchased a new position in Fuel Tech during the 2nd quarter worth $32,000. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in shares of Fuel Tech in the 4th quarter worth $26,000. Charles Schwab Investment Management Inc. purchased a new stake in shares of Fuel Tech in the first quarter valued at about $32,000. Finally, Virtu Financial LLC increased its stake in shares of Fuel Tech by 150.2% during the fourth quarter. Virtu Financial LLC now owns 26,898 shares of the industrial products company’s stock worth $34,000 after acquiring an additional 16,147 shares during the period. 20.94% of the stock is owned by institutional investors and hedge funds.

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.