Fuel Tech (NASDAQ:FTEK) Receives “Buy” Rating from HC Wainwright

HC Wainwright restated their buy rating on shares of Fuel Tech (NASDAQ:FTEK) in a research note released on Thursday morning,Benzinga reports. The brokerage currently has a $4.00 target price on the industrial products company’s stock.

Separately, StockNews.com assumed coverage on Fuel Tech in a research note on Sunday, March 2nd. They set a “hold” rating on the stock.

Fuel Tech Stock Down 1.5 %

NASDAQ:FTEK opened at $1.01 on Thursday. Fuel Tech has a twelve month low of $0.87 and a twelve month high of $1.34. The business has a 50 day moving average price of $1.00 and a two-hundred day moving average price of $1.02. The company has a market cap of $30.86 million, a P/E ratio of -50.25 and a beta of 4.07.

Fuel Tech (NASDAQ:FTEK) last released its quarterly earnings results on Tuesday, March 4th. The industrial products company reported ($0.06) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.03). Fuel Tech had a negative return on equity of 1.37% and a negative net margin of 2.29%. The firm had revenue of $5.28 million for the quarter, compared to analyst estimates of $5.63 million. During the same period last year, the company earned ($0.02) EPS. As a group, analysts anticipate that Fuel Tech will post -0.03 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Fuel Tech

A number of institutional investors and hedge funds have recently made changes to their positions in FTEK. Peapod Lane Capital LLC bought a new stake in shares of Fuel Tech during the 4th quarter worth approximately $1,027,000. Virtu Financial LLC bought a new stake in Fuel Tech in the 4th quarter valued at $26,000. Renaissance Technologies LLC raised its stake in 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 during the period. XTX Topco Ltd bought a new stake in Fuel Tech in the 4th quarter valued at $27,000. Finally, Millennium Management LLC raised 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 acquiring an additional 24,129 shares during the period. 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.