Fuel Tech, Inc. (NASDAQ:FTEK - Get Free Report) passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $1.51 and traded as high as $3.22. Fuel Tech shares last traded at $2.94, with a volume of 2,281,409 shares trading hands.
Wall Street Analysts Forecast Growth
Separately, Wall Street Zen upgraded Fuel Tech to a "hold" rating in a report on Saturday, July 5th.
Read Our Latest Stock Report on FTEK
Fuel Tech Stock Performance
The firm has a market capitalization of $93.21 million, a P/E ratio of -30.00 and a beta of 4.63. The business's fifty day moving average price is $2.46 and its two-hundred day moving average price is $1.54.
Fuel Tech (NASDAQ:FTEK - Get Free Report) last released its quarterly earnings results on Tuesday, August 5th. The industrial products company reported ($0.02) earnings per share 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. Sell-side analysts predict that Fuel Tech, Inc. will post -0.03 earnings per share for the current year.
Hedge Funds Weigh In On Fuel Tech
Several hedge funds and other institutional investors have recently modified their holdings of the stock. Geode Capital Management LLC lifted its stake 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 lifted its stake 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. Grace & White Inc. NY lifted its stake 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. Millennium Management LLC lifted its stake 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, XTX Topco Ltd acquired a new stake in Fuel Tech during the 4th quarter valued at approximately $27,000. 20.94% of the stock is owned by hedge funds and other institutional investors.
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.
Further Reading
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