Fuel Tech (NASDAQ:FTEK) Shares Cross Above 200 Day Moving Average - Here's Why

Fuel Tech, Inc. (NASDAQ:FTEK - Get Free Report)'s share price crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $1.04 and traded as high as $1.79. Fuel Tech shares last traded at $1.73, with a volume of 286,710 shares changing hands.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the stock. HC Wainwright reiterated a "buy" rating and set a $4.00 target price on shares of Fuel Tech in a report on Thursday, March 6th. Wall Street Zen started coverage on shares of Fuel Tech in a report on Wednesday, May 21st. They set a "hold" rating for the company.

Fuel Tech Stock Down 6.1%

The firm has a market capitalization of $51.71 million, a PE ratio of -84.00 and a beta of 4.38. The stock's fifty day simple moving average is $1.11 and its 200 day simple moving average is $1.05.

Fuel Tech (NASDAQ:FTEK - Get Free Report) last posted its quarterly earnings data on Monday, May 12th. The industrial products company reported ($0.02) earnings per share for the quarter, meeting analysts' consensus estimates of ($0.02). Fuel Tech had a negative return on equity of 1.37% and a negative net margin of 2.29%. The firm had revenue of $6.38 million for the quarter, compared to analysts' expectations of $6.64 million. On average, analysts predict that Fuel Tech, Inc. will post -0.03 EPS for the current year.

Institutional Investors Weigh In On Fuel Tech

Institutional investors have recently bought and sold shares of the business. Peapod Lane Capital LLC purchased a new position in Fuel Tech in the 4th quarter worth approximately $1,027,000. Virtu Financial LLC purchased a new position in shares of Fuel Tech in the 4th quarter worth approximately $26,000. Renaissance Technologies LLC boosted its stake in Fuel Tech by 15.3% during the fourth quarter. Renaissance Technologies LLC now owns 1,039,609 shares of the industrial products company's stock worth $1,092,000 after buying an additional 138,169 shares during the period. XTX Topco Ltd purchased a new position in shares of Fuel Tech during the 4th quarter worth about $27,000. Finally, Millennium Management LLC boosted its position in shares of Fuel Tech by 70.1% during the fourth 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. Hedge funds and other 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.