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

StockNews.com began coverage on shares of Fuel Tech (NASDAQ:FTEK) in a research note published on Monday morning. The brokerage issued 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 research report on Thursday, March 6th.

Fuel Tech Stock Performance

Shares of NASDAQ FTEK opened at $0.96 on Monday. Fuel Tech has a fifty-two week low of $0.87 and a fifty-two week high of $1.34. The company has a market capitalization of $29.39 million, a price-to-earnings ratio of -47.86 and a beta of 4.25. The company has a 50 day simple moving average of $1.00 and a two-hundred day simple moving average of $1.02.

Fuel Tech (NASDAQ:FTEK) last posted its quarterly earnings results on Tuesday, March 4th. The industrial products company reported ($0.06) EPS for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.03). The firm had revenue of $5.28 million for the quarter, compared to analysts’ expectations of $5.63 million. Fuel Tech had a negative net margin of 2.29% and a negative return on equity of 1.37%. During the same quarter in the previous year, the company earned ($0.02) EPS. On average, analysts forecast that Fuel Tech will post -0.03 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the business. Peapod Lane Capital LLC bought a new stake in Fuel Tech during the 4th quarter valued at about $1,027,000. Renaissance Technologies LLC increased its stake in shares of Fuel Tech by 15.3% during the fourth quarter. Renaissance Technologies LLC now owns 1,039,609 shares of the industrial products company’s stock valued at $1,092,000 after buying an additional 138,169 shares during the period. XTX Topco Ltd bought a new stake in shares of Fuel Tech in the 4th quarter valued at about $27,000. Virtu Financial LLC purchased a new stake in Fuel Tech during the fourth quarter worth $26,000. Finally, Millennium Management LLC boosted its position in Fuel Tech by 70.1% during the fourth quarter. Millennium Management LLC now owns 58,571 shares of the industrial products company’s stock valued at $62,000 after purchasing an additional 24,129 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.