Fuel Tech (NASDAQ:FTEK) Share Price Passes Above 200-Day Moving Average - Should You Sell?

Key Points

• Fuel Tech's share price crossed above its 200-day moving average of $2.07, reaching a high of $3.00 during trading, with the last recorded price at $2.89.
• The company received a "hold" rating upgrade from Wall Street Zen, alongside a consensus price target of $4.00, indicating moderate optimism from analysts.
• In its latest earnings report, Fuel Tech posted (-$0.02) earnings per share, surpassing analyst expectations but fell short in revenue, reporting $5.56 million against an anticipated $6.09 million.

Fuel Tech, Inc. (NASDAQ:FTEK - Get Free Report) passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $2.07 and traded as high as $3.00. Fuel Tech shares last traded at $2.89, with a volume of 192,341 shares.

Analyst Ratings Changes

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

Fuel Tech Stock Down 3.7%

The firm has a 50 day moving average of $2.97 and a 200 day moving average of $2.07. The firm has a market cap of $89.79 million, a PE ratio of -28.90 and a beta of 4.90.

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

Institutional Investors Weigh In On Fuel Tech

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Grace & White Inc. NY raised its holdings in Fuel Tech by 1.7% during 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 during the period. Geode Capital Management LLC raised its holdings in Fuel Tech by 3.6% during 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 acquiring an additional 17,766 shares during the period. Essex Investment Management Co. LLC raised its holdings in Fuel Tech by 11.8% during 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 during the period. Millennium Management LLC raised its holdings in Fuel Tech by 70.1% during 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. Finally, Marshall Wace LLP bought a new stake in Fuel Tech during the 2nd quarter valued at $63,000. 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.

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