Fuel Tech, Inc. (NASDAQ:FTEK - Get Free Report) shares passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $1.30 and traded as high as $2.65. Fuel Tech shares last traded at $2.63, with a volume of 384,813 shares.
Wall Street Analysts Forecast Growth
Separately, Wall Street Zen upgraded shares of Fuel Tech to a "hold" rating in a report on Saturday, July 5th.
Read Our Latest Report on FTEK
Fuel Tech Stock Performance
The firm has a market capitalization of $76.94 million, a price-to-earnings ratio of -27.78 and a beta of 4.56. The business has a fifty day moving average price of $1.99 and a 200 day moving average price of $1.33.
Fuel Tech (NASDAQ:FTEK - Get Free Report) last announced its quarterly earnings results on Monday, May 12th. The industrial products company reported ($0.02) EPS for the quarter, hitting the consensus estimate of ($0.02). The company had revenue of $6.38 million during the quarter, compared to analyst estimates of $6.64 million. Fuel Tech had a negative return on equity of 6.94% and a negative net margin of 11.16%. On average, analysts expect that Fuel Tech, Inc. will post -0.03 earnings per share for the current year.
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Renaissance Technologies LLC raised its stake 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 during the period. Virtu Financial LLC purchased a new position in Fuel Tech in the fourth quarter valued at about $26,000. XTX Topco Ltd purchased a new position in Fuel Tech in the fourth quarter valued at about $27,000. Millennium Management LLC boosted its position in shares of Fuel Tech by 70.1% in the fourth quarter. Millennium Management LLC now owns 58,571 shares of the industrial products company's stock worth $62,000 after buying an additional 24,129 shares during the period. Finally, Grace & White Inc. NY grew its stake in shares of Fuel Tech by 1.7% in the first quarter. Grace & White Inc. NY now owns 1,899,149 shares of the industrial products company's stock valued at $1,994,000 after buying an additional 31,022 shares in the last quarter. 20.94% of the stock is owned by institutional investors and hedge funds.
About Fuel Tech
(
Get Free Report)
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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