Fuel Tech (NASDAQ:FTEK) Raised to Hold at Wall Street Zen

Wall Street Zen upgraded shares of Fuel Tech (NASDAQ:FTEK) to a hold rating in a research report sent to investors on Saturday.

Fuel Tech Price Performance

NASDAQ FTEK opened at $2.86 on Friday. The firm’s 50-day moving average is $1.71 and its two-hundred day moving average is $1.24. Fuel Tech has a 12 month low of $0.87 and a 12 month high of $2.96. The stock has a market capitalization of $88.03 million, a P/E ratio of -31.78 and a beta of 4.56.

Fuel Tech (NASDAQ:FTEK) last posted its earnings results on Monday, May 12th. The industrial products company reported ($0.02) EPS for the quarter, meeting analysts’ consensus estimates of ($0.02). Fuel Tech had a negative net margin of 11.16% and a negative return on equity of 6.94%. The company had revenue of $6.38 million for the quarter, compared to analysts’ expectations of $6.64 million. As a group, analysts anticipate that Fuel Tech will post -0.03 EPS for the current year.

Institutional Trading of Fuel Tech

Several hedge funds have recently made changes to their positions in the business. Essex Investment Management Co. LLC lifted its position in shares of Fuel Tech by 11.8% during the first quarter. Essex Investment Management Co. LLC now owns 124,241 shares of the industrial products company’s stock worth $130,000 after purchasing an additional 13,106 shares in the last quarter. Millennium Management LLC lifted its position in shares of Fuel Tech by 70.1% during the fourth quarter. Millennium Management LLC now owns 58,571 shares of the industrial products company’s stock worth $62,000 after purchasing an additional 24,129 shares in the last quarter. Virtu Financial LLC acquired a new stake in shares of Fuel Tech during the fourth quarter worth about $26,000. XTX Topco Ltd acquired a new stake in shares of Fuel Tech during the fourth quarter worth about $27,000. Finally, Grace & White Inc. NY lifted its position in shares of Fuel Tech by 1.7% during the first quarter. Grace & White Inc. NY now owns 1,899,149 shares of the industrial products company’s stock worth $1,994,000 after purchasing an additional 31,022 shares in the last quarter. Institutional investors and hedge funds own 20.94% of the company’s stock.

About Fuel Tech

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.