Fuel Tech (NASDAQ:FTEK) Stock Price Crosses Above 200 Day Moving Average - Time to Sell?

Fuel Tech, Inc. (NASDAQ:FTEK - Get Free Report) shares passed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $1.20 and traded as high as $2.74. Fuel Tech shares last traded at $2.52, with a volume of 635,606 shares changing hands.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on FTEK shares. Wall Street Zen initiated coverage on shares of Fuel Tech in a research note on Wednesday, May 21st. They set a "hold" rating for the company. HC Wainwright reaffirmed a "buy" rating and set a $4.00 price objective on shares of Fuel Tech in a research report on Thursday, March 6th.

Fuel Tech Trading Down 0.7%

The stock has a market cap of $88.03 million, a price-to-earnings ratio of -31.78 and a beta of 4.56. The stock's 50 day moving average is $1.71 and its two-hundred day moving average is $1.24.

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 for the quarter, hitting the consensus estimate of ($0.02). Fuel Tech had a negative net margin of 11.16% and a negative return on equity of 6.94%. The business had revenue of $6.38 million during the quarter, compared to the consensus estimate of $6.64 million. On average, sell-side analysts predict that Fuel Tech, Inc. will post -0.03 EPS for the current year.

Institutional Trading of Fuel Tech

A number of hedge funds have recently added to or reduced their stakes in the stock. Virtu Financial LLC purchased a new position in Fuel Tech in the fourth quarter valued at about $26,000. Renaissance Technologies LLC raised its stake in shares of 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 during the period. XTX Topco Ltd acquired a new stake in Fuel Tech during the 4th quarter valued at approximately $27,000. Millennium Management LLC raised its stake 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 valued at $62,000 after purchasing an additional 24,129 shares in the last quarter. Finally, Grace & White Inc. NY increased its holdings 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 worth $1,994,000 after acquiring an additional 31,022 shares during the period. 20.94% of the stock is owned by institutional investors and hedge funds.

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.