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

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

Separately, HC Wainwright restated a “buy” rating and issued a $4.00 price objective on shares of Fuel Tech in a research note on Thursday, May 9th.

Fuel Tech Price Performance

NASDAQ:FTEK opened at $1.07 on Thursday. The firm has a market capitalization of $32.52 million, a price-to-earnings ratio of -35.67 and a beta of 4.06. Fuel Tech has a one year low of $0.96 and a one year high of $1.35. The business has a fifty day moving average price of $1.15 and a 200-day moving average price of $1.12.

Fuel Tech (NASDAQ:FTEK) last posted its quarterly earnings data on Tuesday, May 7th. The industrial products company reported $0.01 EPS for the quarter, topping the consensus estimate of ($0.01) by $0.02. The firm had revenue of $4.96 million during the quarter, compared to analyst estimates of $6.73 million. Fuel Tech had a negative return on equity of 1.92% and a negative net margin of 3.41%. On average, equities research analysts expect that Fuel Tech will post -0.02 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Migdal Insurance & Financial Holdings Ltd. bought a new position in Fuel Tech in the 4th quarter worth $26,000. Marquette Asset Management LLC boosted its holdings in Fuel Tech by 14.7% in the 1st quarter. Marquette Asset Management LLC now owns 141,189 shares of the industrial products company’s stock worth $171,000 after buying an additional 18,133 shares during the period. Essex Investment Management Co. LLC boosted its holdings in Fuel Tech by 42.6% in the 1st quarter. Essex Investment Management Co. LLC now owns 401,159 shares of the industrial products company’s stock worth $485,000 after buying an additional 119,763 shares during the period. Acuitas Investments LLC boosted its holdings in Fuel Tech by 36.9% in the 4th quarter. Acuitas Investments LLC now owns 822,613 shares of the industrial products company’s stock worth $864,000 after buying an additional 221,932 shares during the period. Finally, Grace & White Inc. NY boosted its holdings in Fuel Tech by 6.9% in the 4th quarter. Grace & White Inc. NY now owns 1,859,922 shares of the industrial products company’s stock worth $1,953,000 after buying an additional 120,527 shares during the period. 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.