Fuel Tech (NASDAQ:FTEK) Stock Crosses Above Two Hundred Day Moving Average – Here’s What Happened

Fuel Tech, Inc. (NASDAQ:FTEK) passed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $1.46 and traded as high as $1.55. Fuel Tech shares last traded at $1.53, with a volume of 31,542 shares.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on FTEK shares. Weiss Ratings raised Fuel Tech from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Monday, June 15th. Zacks Research raised Fuel Tech from a “strong sell” rating to a “hold” rating in a research report on Monday, July 6th. Finally, Wall Street Zen downgraded Fuel Tech from a “hold” rating to a “sell” rating in a research note on Saturday, May 9th. One equities research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Reduce”.

Fuel Tech Trading Up 3.4%

The stock has a market capitalization of $47.69 million, a PE ratio of -17.00 and a beta of 1.24. The company’s 50-day moving average is $1.60 and its 200 day moving average is $1.46.

Fuel Tech (NASDAQ:FTEK) last released its earnings results on Tuesday, May 5th. The industrial products company reported ($0.04) earnings per share for the quarter. Fuel Tech had a negative return on equity of 7.34% and a negative net margin of 11.15%.The company had revenue of $6.08 million for the quarter, compared to analysts’ expectations of $7.62 million. Sell-side analysts forecast that Fuel Tech, Inc. will post -0.12 EPS for the current fiscal year.

Institutional Investors Weigh In On Fuel Tech

Institutional investors and hedge funds have recently made changes to their positions in the stock. Virtu Financial LLC acquired a new position in shares of Fuel Tech in the 4th quarter valued at $27,000. Prelude Capital Management LLC purchased a new position in Fuel Tech in the 3rd quarter worth $40,000. NewEdge Advisors LLC lifted its position in Fuel Tech by 35,206.0% during the 3rd quarter. NewEdge Advisors LLC now owns 17,653 shares of the industrial products company’s stock worth $53,000 after acquiring an additional 17,603 shares during the period. Marshall Wace LLP acquired a new stake in Fuel Tech during the 2nd quarter worth about $63,000. Finally, Advisory Services Network LLC grew its stake in Fuel Tech by 44.2% during the 3rd quarter. Advisory Services Network LLC now owns 21,627 shares of the industrial products company’s stock valued at $65,000 after purchasing an additional 6,627 shares during the last quarter. 20.94% of the stock is currently owned by institutional investors and hedge funds.

Fuel Tech Company Profile

Fuel Tech, Inc (NASDAQ: FTEK) is a specialty technology and engineering company focused on developing and supplying clean air solutions for the power generation and industrial markets. The company designs, manufactures and markets proprietary chemical reagents and process control systems that help customers reduce emissions of nitrogen oxides (NOx), mercury and other air pollutants. Its technology platform combines advanced process modeling, plant optimization software and field testing services to help utilities and industrial facilities comply with environmental regulations and improve operational efficiency.

Fuel Tech’s core product lines include selective catalytic reduction (SCR) optimization systems, activated carbon injection solutions for mercury capture, and sorbent enhancement additives for flue gas desulfurization processes.