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

StockNews.com started coverage on shares of Fuel Tech (NASDAQ:FTEK) in a report issued on Thursday. The firm issued a hold rating on the industrial products company’s stock.

Separately, HC Wainwright reiterated a buy rating and issued a $4.00 price objective on shares of Fuel Tech in a research report on Thursday, May 9th.

Fuel Tech Price Performance

Shares of NASDAQ:FTEK opened at $1.07 on Thursday. The stock has a market capitalization of $32.52 million, a P/E ratio of -35.67 and a beta of 4.06. The business has a 50-day moving average of $1.15 and a two-hundred day moving average of $1.12. Fuel Tech has a fifty-two week low of $0.96 and a fifty-two week high of $1.35.

Fuel Tech (NASDAQ:FTEK) last posted its quarterly earnings data on Tuesday, May 7th. The industrial products company reported $0.01 earnings per share for the quarter, topping the consensus estimate of ($0.01) by $0.02. The business had revenue of $4.96 million during the quarter, compared to analysts’ expectations of $6.73 million. Fuel Tech had a negative return on equity of 1.92% and a negative net margin of 3.41%. As a group, research analysts expect that Fuel Tech will post -0.02 EPS for the current fiscal year.

Institutional Trading of Fuel Tech

A number of large investors have recently made changes to their positions in the company. Marquette Asset Management LLC increased its position in shares of Fuel Tech by 14.7% during the first quarter. Marquette Asset Management LLC now owns 141,189 shares of the industrial products company’s stock worth $171,000 after acquiring an additional 18,133 shares in the last quarter. Essex Investment Management Co. LLC boosted its position in Fuel Tech by 42.6% during the 1st quarter. Essex Investment Management Co. LLC now owns 401,159 shares of the industrial products company’s stock worth $485,000 after acquiring an additional 119,763 shares during the last quarter. Acuitas Investments LLC raised its holdings in shares of Fuel Tech by 36.9% in the fourth quarter. Acuitas Investments LLC now owns 822,613 shares of the industrial products company’s stock valued at $864,000 after purchasing an additional 221,932 shares during the last quarter. Grace & White Inc. NY lifted its position in shares of Fuel Tech by 6.9% in the fourth quarter. Grace & White Inc. NY now owns 1,859,922 shares of the industrial products company’s stock worth $1,953,000 after purchasing an additional 120,527 shares in the last quarter. Finally, Migdal Insurance & Financial Holdings Ltd. bought a new position in Fuel Tech in the fourth quarter valued at $26,000. Institutional investors own 20.94% of the company’s stock.

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.