Fuel Tech (NASDAQ:FTEK) Receives New Coverage from Analysts at StockNews.com

StockNews.com assumed coverage on shares of Fuel Tech (NASDAQ:FTEK) in a report issued on Thursday. The brokerage issued a hold rating on the industrial products company’s stock.

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

Fuel Tech Stock Performance

Shares of Fuel Tech stock remained flat at $1.25 during trading on Thursday. The stock had a trading volume of 27,736 shares, compared to its average volume of 54,524. The firm’s fifty day simple moving average is $1.17 and its two-hundred day simple moving average is $1.10. Fuel Tech has a twelve month low of $0.96 and a twelve month high of $1.48. The stock has a market capitalization of $37.99 million, a price-to-earnings ratio of -25.00 and a beta of 4.21.

Fuel Tech (NASDAQ:FTEK) last posted its quarterly earnings data on Monday, March 11th. The industrial products company reported ($0.02) earnings per share for the quarter, beating the consensus estimate 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 company had revenue of $6.35 million during the quarter, compared to analyst estimates of $6.90 million. On average, analysts predict 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 added to or reduced their stakes in FTEK. Migdal Insurance & Financial Holdings Ltd. purchased a new position in shares of Fuel Tech during the fourth quarter valued at $26,000. Essex Investment Management Co. LLC boosted its position in Fuel Tech by 42.6% during the 1st quarter. Essex Investment Management Co. LLC now owns 401,159 shares of the industrial products company’s stock worth $485,000 after acquiring an additional 119,763 shares during the period. Acuitas Investments LLC grew its stake in Fuel Tech by 36.9% during the 4th quarter. Acuitas Investments LLC now owns 822,613 shares of the industrial products company’s stock valued at $864,000 after acquiring an additional 221,932 shares in the last quarter. Finally, Grace & White Inc. NY increased its holdings in shares of Fuel Tech by 1.5% in the 3rd quarter. Grace & White Inc. NY now owns 1,739,395 shares of the industrial products company’s stock valued at $2,052,000 after purchasing an additional 25,462 shares during the period. 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.