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

Equities researchers at StockNews.com began coverage on shares of Fuel Tech (NASDAQ:FTEK) in a research note issued on Tuesday. The firm set 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 research report on Thursday, May 9th.

Fuel Tech Trading Up 1.1 %

Shares of NASDAQ:FTEK opened at $0.98 on Tuesday. The firm has a 50 day moving average of $1.05 and a 200-day moving average of $1.12. The stock has a market capitalization of $29.81 million, a PE ratio of -32.70 and a beta of 4.16. Fuel Tech has a 12 month low of $0.91 and a 12 month high of $1.34.

Fuel Tech (NASDAQ:FTEK) last issued its earnings results on Tuesday, May 7th. The industrial products company reported $0.01 EPS for the quarter, beating the consensus estimate of ($0.01) by $0.02. The company had revenue of $4.96 million during the quarter, compared to analysts’ expectations of $6.73 million. Fuel Tech had a negative net margin of 3.41% and a negative return on equity of 1.92%. On average, research analysts predict that Fuel Tech will post -0.02 EPS for the current fiscal year.

Hedge Funds Weigh In On Fuel Tech

Institutional investors have recently added to or reduced their stakes in the stock. Grace & White Inc. NY increased its position in Fuel Tech by 6.9% during 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 purchasing an additional 120,527 shares in the last quarter. Acuitas Investments LLC increased its position 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 worth $864,000 after purchasing an additional 221,932 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. acquired a new position in Fuel Tech during the 4th quarter worth approximately $26,000. Essex Investment Management Co. LLC increased 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 purchasing an additional 119,763 shares in the last quarter. Finally, Marquette Asset Management LLC increased its position 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 valued at $171,000 after acquiring an additional 18,133 shares during the period. 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.