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

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

Separately, HC Wainwright reissued a buy rating and issued a $4.00 price target 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 stock’s 50 day simple moving average is $1.15 and its two-hundred day simple moving average is $1.09. The stock has a market cap of $34.03 million, a price-to-earnings ratio of -22.40 and a beta of 4.34. Fuel Tech has a fifty-two week low of $0.96 and a fifty-two week high of $1.83.

Fuel Tech (NASDAQ:FTEK) last issued its quarterly 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. Fuel Tech had a negative return on equity of 3.49% and a negative net margin of 5.68%. The firm had revenue of $6.35 million for the quarter, compared to analysts’ expectations 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

A number of hedge funds have recently added to or reduced their stakes in the company. Acuitas Investments LLC raised 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 acquiring an additional 221,932 shares during the last quarter. Grace & White Inc. NY raised 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 acquiring an additional 120,527 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. purchased a new position in Fuel Tech in the 4th quarter worth approximately $26,000. Two Sigma Securities LLC purchased a new position in Fuel Tech in the 2nd quarter worth approximately $32,000. Finally, Renaissance Technologies LLC raised its stake in Fuel Tech by 5.1% during the 1st quarter. Renaissance Technologies LLC now owns 864,944 shares of the industrial products company’s stock valued at $1,107,000 after buying an additional 42,357 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.