StockNews.com Begins Coverage on Fuel Tech (NASDAQ:FTEK)

Equities researchers at StockNews.com assumed coverage on shares of Fuel Tech (NASDAQ:FTEK) in a research report issued to clients and investors on Friday. The firm set a “hold” rating on the industrial products company’s stock.

Separately, HC Wainwright reaffirmed 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 Stock Performance

Fuel Tech stock opened at $1.02 on Friday. The stock has a market cap of $30.99 million, a PE ratio of -34.00 and a beta of 4.16. Fuel Tech has a one year low of $0.91 and a one year high of $1.34. The stock has a fifty day moving average of $1.03 and a 200 day moving average of $1.11.

Fuel Tech (NASDAQ:FTEK) last issued its quarterly earnings results on Tuesday, August 6th. The industrial products company reported ($0.01) EPS for the quarter, topping analysts’ consensus estimates of ($0.02) by $0.01. The business had revenue of $7.04 million during the quarter, compared to analysts’ expectations of $5.81 million. Fuel Tech had a negative return on equity of 1.92% and a negative net margin of 3.41%. During the same quarter in the prior year, the business posted ($0.03) earnings per share. As a group, sell-side analysts predict that Fuel Tech will post -0.02 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Marquette Asset Management LLC increased its holdings in shares of 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. Essex Investment Management Co. LLC increased its holdings in shares of 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 valued at $485,000 after acquiring an additional 119,763 shares during the period. Finally, Renaissance Technologies LLC increased its holdings in shares of Fuel Tech by 5.4% in the 2nd quarter. Renaissance Technologies LLC now owns 874,618 shares of the industrial products company’s stock valued at $936,000 after acquiring an additional 44,512 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.