Fuel Tech (NASDAQ:FTEK) Earns Hold Rating from Analysts at Wall Street Zen

Wall Street Zen assumed coverage on shares of Fuel Tech (NASDAQ:FTEK) in a research report released on Wednesday. The brokerage issued a hold rating on the industrial products company’s stock.

Separately, HC Wainwright reaffirmed a “buy” rating and issued a $4.00 price target on shares of Fuel Tech in a report on Thursday, March 6th.

Fuel Tech Stock Performance

Shares of FTEK opened at $1.60 on Wednesday. The stock’s 50-day simple moving average is $1.04 and its 200 day simple moving average is $1.02. The stock has a market capitalization of $49.24 million, a price-to-earnings ratio of -80.00 and a beta of 4.38. Fuel Tech has a 52-week low of $0.87 and a 52-week high of $1.80.

Fuel Tech (NASDAQ:FTEK) last issued its quarterly earnings data on Monday, May 12th. The industrial products company reported ($0.02) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.02). The business had revenue of $6.38 million for the quarter, compared to analysts’ expectations of $6.64 million. Fuel Tech had a negative return on equity of 1.37% and a negative net margin of 2.29%. On average, research analysts forecast that Fuel Tech will post -0.03 earnings per share for the current fiscal year.

Institutional Trading of Fuel Tech

Several institutional investors and hedge funds have recently modified their holdings of the business. Grace & White Inc. NY raised its holdings in shares of Fuel Tech by 1.7% in the 1st quarter. Grace & White Inc. NY now owns 1,899,149 shares of the industrial products company’s stock valued at $1,994,000 after acquiring an additional 31,022 shares in the last quarter. Renaissance Technologies LLC raised its holdings in shares of Fuel Tech by 15.3% in the 4th quarter. Renaissance Technologies LLC now owns 1,039,609 shares of the industrial products company’s stock valued at $1,092,000 after acquiring an additional 138,169 shares in the last quarter. Peapod Lane Capital LLC purchased a new stake in shares of Fuel Tech in the 4th quarter valued at about $1,027,000. Essex Investment Management Co. LLC raised its holdings in shares of Fuel Tech by 11.8% in the 1st quarter. Essex Investment Management Co. LLC now owns 124,241 shares of the industrial products company’s stock valued at $130,000 after acquiring an additional 13,106 shares in the last quarter. Finally, Millennium Management LLC raised its holdings in shares of 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 acquiring an additional 24,129 shares in the last quarter. Hedge funds and other 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.