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

Research analysts at StockNews.com assumed coverage on shares of Fuel Tech (NASDAQ:FTEK) in a research note issued to investors on Saturday. 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 target price on shares of Fuel Tech in a research note on Thursday, March 6th.

Fuel Tech Stock Performance

Shares of NASDAQ:FTEK opened at $0.97 on Friday. Fuel Tech has a 52-week low of $0.87 and a 52-week high of $1.34. The company has a market capitalization of $29.92 million, a P/E ratio of -48.71 and a beta of 4.11. The company has a 50-day simple moving average of $0.98 and a 200 day simple moving average of $1.01.

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

Hedge Funds Weigh In On Fuel Tech

Several institutional investors and hedge funds have recently modified their holdings of FTEK. Peapod Lane Capital LLC acquired a new stake in Fuel Tech in the 4th quarter worth about $1,027,000. Virtu Financial LLC bought a new position in shares of Fuel Tech during the fourth quarter worth approximately $26,000. Renaissance Technologies LLC grew its holdings in shares of Fuel Tech by 15.3% during the 4th quarter. Renaissance Technologies LLC now owns 1,039,609 shares of the industrial products company’s stock worth $1,092,000 after purchasing an additional 138,169 shares in the last quarter. XTX Topco Ltd bought a new position in shares of Fuel Tech in the fourth quarter worth $27,000. Finally, Millennium Management LLC raised its stake in Fuel Tech by 70.1% in 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. 20.94% of the stock is currently 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.