Fuel Tech (FTEK) Rating Lowered to Hold at ValuEngine
ValuEngine downgraded shares of Fuel Tech (NASDAQ:FTEK) from a buy rating to a hold rating in a report issued on Wednesday.
Several other equities research analysts have also recently issued reports on the company. HC Wainwright restated a buy rating and set a $2.00 price objective on shares of Fuel Tech in a report on Monday. Zacks Investment Research raised Fuel Tech from a hold rating to a buy rating and set a $1.50 price objective for the company in a report on Friday, March 15th.
FTEK opened at $1.33 on Wednesday. Fuel Tech has a one year low of $0.96 and a one year high of $1.61.
A hedge fund recently raised its stake in Fuel Tech stock. Perritt Capital Management Inc. boosted its position in Fuel Tech Inc (NASDAQ:FTEK) by 22.7% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 481,397 shares of the industrial products company’s stock after purchasing an additional 88,972 shares during the period. Perritt Capital Management Inc. owned approximately 1.99% of Fuel Tech worth $573,000 as of its most recent SEC filing. Institutional investors and hedge funds own 23.34% 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. It 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 by low and ultra-low NOx burners; over-fire air systems; NOxOUT and HERT selective non-catalytic reduction systems; advanced selective catalytic reduction (SCR) systems; NOxOUT CASCADE and NOxOUT-SCR processes; ULTRA technology; ammonia injection grid and graduated straightening grid systems; and flue gas conditioning systems.
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To view ValuEngine’s full report, visit ValuEngine’s official website.
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