Fuel Tech (NASDAQ:FTEK) Stock Passes Above Two Hundred Day Moving Average – Here’s Why

Fuel Tech, Inc. (NASDAQ:FTEK)’s stock price passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $1.01 and traded as high as $1.01. Fuel Tech shares last traded at $0.97, with a volume of 31,753 shares trading hands.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. HC Wainwright reiterated a “buy” rating and set a $4.00 price objective on shares of Fuel Tech in a report on Thursday, March 6th. StockNews.com assumed coverage on Fuel Tech in a research report on Friday. They set a “hold” rating on the stock.

Fuel Tech Stock Up 0.7 %

The stock has a market capitalization of $29.85 million, a P/E ratio of -48.60 and a beta of 4.11. The business’s 50 day simple moving average is $0.98 and its two-hundred day simple moving average is $1.01.

Fuel Tech (NASDAQ:FTEK) last announced its quarterly earnings results on Tuesday, March 4th. The industrial products company reported ($0.06) earnings per share for the quarter, missing the consensus estimate of ($0.03) by ($0.03). The business had revenue of $5.28 million during the quarter, compared to the consensus estimate of $5.63 million. Fuel Tech had a negative net margin of 2.29% and a negative return on equity of 1.37%. During the same period in the previous year, the business posted ($0.02) EPS. Analysts predict that Fuel Tech, Inc. will post -0.03 earnings per share for the current year.

Institutional Investors Weigh In On Fuel Tech

Several institutional investors have recently bought and sold shares of FTEK. Peapod Lane Capital LLC bought a new position in Fuel Tech during the 4th quarter valued at $1,027,000. Virtu Financial LLC bought a new position in shares of Fuel Tech during the fourth quarter valued at about $26,000. Renaissance Technologies LLC boosted its holdings in Fuel Tech by 15.3% during the fourth quarter. Renaissance Technologies LLC now owns 1,039,609 shares of the industrial products company’s stock worth $1,092,000 after purchasing an additional 138,169 shares during the last quarter. XTX Topco Ltd bought a new stake in Fuel Tech in the 4th quarter worth about $27,000. Finally, Millennium Management LLC increased its stake in Fuel Tech by 70.1% in the 4th quarter. Millennium Management LLC now owns 58,571 shares of the industrial products company’s stock valued at $62,000 after buying an additional 24,129 shares during the last quarter. 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.