Fuel Tech (NASDAQ:FTEK) Stock Crosses Above 200 Day Moving Average - Here's What Happened

Key Points

• Fuel Tech's stock price surpassed its 200-day moving average of $1.87, reaching a high of $3.65 before closing at $3.63, reflecting a 7.1% increase during trading.
• Wall Street Zen upgraded Fuel Tech to a "hold" rating with an average target price of $4.00, while one analyst has rated the stock as a Buy.
• Fuel Tech reported quarterly earnings of ($0.02) per share, exceeding expectations, but faced a revenue shortfall with $5.56 million reported against an estimate of $6.09 million.

Fuel Tech, Inc. (NASDAQ:FTEK - Get Free Report)'s share price passed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $1.87 and traded as high as $3.65. Fuel Tech shares last traded at $3.63, with a volume of 798,617 shares traded.

Wall Street Analyst Weigh In

Separately, Wall Street Zen upgraded Fuel Tech to a "hold" rating in a research note on Saturday, July 5th. One research analyst has rated the stock with a Buy rating, According to MarketBeat.com, the stock presently has an average rating of "Buy" and an average target price of $4.00.

Fuel Tech Stock Up 7.1%

The business has a fifty day simple moving average of $2.84 and a two-hundred day simple moving average of $1.87. The company has a market cap of $112.78 million, a P/E ratio of -36.30 and a beta of 4.84.

Fuel Tech (NASDAQ:FTEK - Get Free Report) last posted its 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 return on equity of 7.70% and a negative net margin of 12.89%.The company had revenue of $5.56 million for the quarter, compared to the consensus estimate of $6.09 million. On average, equities analysts predict that Fuel Tech, Inc. will post -0.03 EPS for the current fiscal year.

Institutional Investors Weigh In On Fuel Tech

Institutional investors have recently bought and sold shares of the business. Grace & White Inc. NY boosted 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 worth $1,994,000 after acquiring an additional 31,022 shares during the period. Geode Capital Management LLC increased its holdings in shares of Fuel Tech by 3.6% in the second quarter. Geode Capital Management LLC now owns 517,658 shares of the industrial products company's stock worth $1,305,000 after purchasing an additional 17,766 shares during the last quarter. Essex Investment Management Co. LLC increased its holdings in shares of Fuel Tech by 11.8% in the 1st quarter. Essex Investment Management Co. LLC now owns 124,241 shares of the industrial products company's stock worth $130,000 after buying an additional 13,106 shares during the last quarter. Millennium Management LLC increased its holdings in shares of Fuel Tech by 70.1% in the 4th 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 last quarter. Finally, Marshall Wace LLP bought a new stake in shares of Fuel Tech in the 2nd quarter worth about $63,000. 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.

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