Fuel Tech (NASDAQ:FTEK) Stock Passes Above Two Hundred Day Moving Average - What's Next?

Key Points

• Fuel Tech's share price has recently surpassed its 200-day moving average of $1.70, reaching a high of $3.25 before closing at $2.91.
• The stock currently holds a consensus rating of "Buy" from analysts, with an average price target of $4.00, despite a recent 7.3% decline.
• In their latest quarterly report, Fuel Tech reported ($0.02) EPS, slightly beating expectations but showing a negative net margin of 12.89%.

Fuel Tech, Inc. (NASDAQ:FTEK - Get Free Report) crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $1.70 and traded as high as $3.25. Fuel Tech shares last traded at $2.91, with a volume of 360,971 shares.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen upgraded shares of Fuel Tech to a "hold" rating in a report on Saturday, July 5th. One research analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus target price of $4.00.

Fuel Tech Price Performance

The firm has a market capitalization of $89.79 million, a price-to-earnings ratio of -28.90 and a beta of 4.84. The stock has a fifty day moving average of $2.77 and a two-hundred day moving average of $1.76.

Fuel Tech (NASDAQ:FTEK - Get Free Report) last issued its quarterly earnings results on Tuesday, August 5th. The industrial products company reported ($0.02) earnings per share for the quarter, topping analysts' consensus estimates of ($0.03) by $0.01. Fuel Tech had a negative return on equity of 7.70% and a negative net margin of 12.89%.The firm had revenue of $5.56 million during the quarter, compared to the consensus estimate of $6.09 million. On average, research analysts forecast that Fuel Tech, Inc. will post -0.03 EPS for the current year.

Institutional Trading of Fuel Tech

A number of large investors have recently bought and sold shares of the business. Corsair Capital Management L.P. acquired a new stake in shares of Fuel Tech in the 2nd quarter valued at about $25,000. Essex Investment Management Co. LLC grew its stake 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 buying an additional 13,106 shares during the period. Geode Capital Management LLC grew its stake in shares of Fuel Tech by 3.6% in the 2nd quarter. Geode Capital Management LLC now owns 517,658 shares of the industrial products company's stock valued at $1,305,000 after buying an additional 17,766 shares during the period. Millennium Management LLC grew its stake 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 buying an additional 24,129 shares during the period. Finally, Marshall Wace LLP acquired a new stake in shares of Fuel Tech in the 2nd quarter valued at about $63,000. 20.94% of the stock is currently owned by institutional investors and hedge funds.

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.