Fuel Tech (NASDAQ:FTEK) Shares Cross Above 200 Day Moving Average - Time to Sell?

Fuel Tech, Inc. (NASDAQ:FTEK - Get Free Report) shares crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred 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 raised shares of Fuel Tech to a "hold" rating in a report on Saturday, July 5th.

Fuel Tech Trading Up 2.4%

The stock has a market capitalization of $78.80 million, a P/E ratio of -28.44 and a beta of 4.56. The business's fifty day simple moving average is $2.02 and its two-hundred day simple moving average is $1.34.

Fuel Tech (NASDAQ:FTEK - Get Free Report) last announced its earnings results on Monday, May 12th. The industrial products company reported ($0.02) earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of ($0.02). The business had revenue of $6.38 million during the quarter, compared to analysts' expectations of $6.64 million. Fuel Tech had a negative net margin of 11.16% and a negative return on equity of 6.94%. On average, equities research analysts anticipate that Fuel Tech, Inc. will post -0.03 earnings per share for the current year.

Institutional Investors Weigh In On Fuel Tech

A number of hedge funds have recently made changes to their positions in FTEK. Virtu Financial LLC acquired a new stake in shares of Fuel Tech during the 4th quarter worth about $26,000. Renaissance Technologies LLC increased its position 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 in the last quarter. XTX Topco Ltd acquired a new stake in Fuel Tech in the 4th quarter valued at about $27,000. Millennium Management LLC increased its position 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 in the last quarter. Finally, Grace & White Inc. NY boosted its stake in shares of Fuel Tech by 1.7% in 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 purchasing an additional 31,022 shares during the last quarter. Institutional investors and hedge funds 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.