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

StockNews.com assumed 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 reissued a buy rating and issued a $4.00 price objective on shares of Fuel Tech in a research report on Wednesday, March 13th.

Fuel Tech Stock Performance

Fuel Tech stock opened at $1.12 on Tuesday. The firm has a market capitalization of $34.04 million, a PE ratio of -22.40 and a beta of 4.34. Fuel Tech has a one year low of $0.96 and a one year 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 earnings results 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. The business had revenue of $6.35 million for the quarter, compared to analysts’ expectations of $6.90 million. Fuel Tech had a negative net margin of 5.68% and a negative return on equity of 3.49%. On average, analysts forecast that Fuel Tech will post -0.03 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Fuel Tech

Institutional investors and hedge funds have recently made changes to their positions in the business. Migdal Insurance & Financial Holdings Ltd. bought a new stake in shares of Fuel Tech in the fourth quarter worth $26,000. Jane Street Group LLC grew its holdings in Fuel Tech by 107.3% during the 3rd quarter. Jane Street Group LLC now owns 22,731 shares of the industrial products company’s stock worth $27,000 after acquiring an additional 11,765 shares in the last quarter. Charles Schwab Investment Management Inc. bought a new stake in shares of Fuel Tech in the 1st quarter worth about $32,000. Two Sigma Securities LLC acquired a new stake in shares of Fuel Tech in the 2nd quarter valued at about $32,000. Finally, Virtu Financial LLC lifted its position 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 purchasing an additional 16,147 shares during the last quarter. 20.94% of the stock is currently owned by hedge funds and other institutional investors.

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.