Fuel Tech (NASDAQ:FTEK) Stock Passes Above Two Hundred Day Moving Average - Should You Sell?

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) shares crossed 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 changing hands.

Wall Street Analysts Forecast Growth

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

Fuel Tech Price Performance

The company has a market capitalization of $103.15 million, a P/E ratio of -33.20 and a beta of 4.84. The business has a 50-day moving average of $2.88 and a 200-day moving average of $1.94.

Fuel Tech (NASDAQ:FTEK - Get Free Report) last issued its quarterly earnings results on Tuesday, August 5th. The industrial products company reported ($0.02) earnings per share (EPS) for the quarter, topping 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 during the quarter, compared to the consensus estimate of $6.09 million. Sell-side analysts predict that Fuel Tech, Inc. will post -0.03 EPS for the current fiscal year.

Institutional Trading of Fuel Tech

A number of hedge funds have recently added to or reduced their stakes in the business. Grace & White Inc. NY raised its holdings in 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 purchasing an additional 31,022 shares in the last quarter. Marshall Wace LLP purchased a new stake in Fuel Tech in the 2nd quarter worth approximately $63,000. Millennium Management LLC boosted 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 worth $62,000 after purchasing an additional 24,129 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of 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 buying an additional 17,766 shares in the last quarter. Finally, Essex Investment Management Co. LLC lifted its position in shares of 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 buying an additional 13,106 shares in the last quarter. 20.94% of the stock is owned by hedge funds and other institutional investors.

Fuel Tech Company Profile

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.