StockNews.com Initiates Coverage on Fuel Tech (NASDAQ:FTEK)

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

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

Fuel Tech Stock Performance

FTEK opened at $1.12 on Tuesday. Fuel Tech has a twelve month low of $0.96 and a twelve month high of $1.83. The firm’s fifty day moving average is $1.15 and its two-hundred day moving average is $1.09. The firm has a market cap of $34.04 million, a PE ratio of -22.40 and a beta of 4.34.

Fuel Tech (NASDAQ:FTEK) last issued its quarterly earnings data 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. Fuel Tech had a negative net margin of 5.68% and a negative return on equity of 3.49%. The business had revenue of $6.35 million for the quarter, compared to analyst estimates of $6.90 million. Equities analysts forecast that Fuel Tech will post -0.03 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the business. Grace & White Inc. NY grew its position in Fuel Tech by 6.9% in 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 grew its position 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 purchasing an additional 42,357 shares in the last quarter. Acuitas Investments LLC grew its position 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 purchasing an additional 221,932 shares in the last quarter. US Bancorp DE grew its position 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 purchasing an additional 61,300 shares in the last quarter. Finally, Susquehanna International Group LLP grew its position 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 purchasing an additional 11,437 shares in the last quarter. Institutional investors own 20.94% of the company’s stock.

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.