Fuel Tech (NASDAQ:FTEK) Share Price Passes Above Two Hundred Day Moving Average - Here's Why

Fuel Tech, Inc. (NASDAQ:FTEK - Get Free Report)'s stock price passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $1.06 and traded as high as $1.75. Fuel Tech shares last traded at $1.74, with a volume of 142,665 shares traded.

Wall Street Analysts Forecast Growth

FTEK has been the topic of several recent research reports. Wall Street Zen began coverage on shares of Fuel Tech in a research report on Wednesday, May 21st. They set a "hold" rating on the stock. HC Wainwright restated a "buy" rating and set a $4.00 price target on shares of Fuel Tech in a report on Thursday, March 6th.

Fuel Tech Price Performance

The company has a fifty day simple moving average of $1.18 and a two-hundred day simple moving average of $1.07. The company has a market capitalization of $58.17 million, a P/E ratio of -94.50 and a beta of 4.48.

Fuel Tech (NASDAQ:FTEK - Get Free Report) last issued 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 business had revenue of $6.38 million for the quarter, compared to the consensus estimate of $6.64 million. Equities analysts anticipate that Fuel Tech, Inc. will post -0.03 earnings per share for the current year.

Hedge Funds Weigh In On Fuel Tech

Institutional investors have recently modified their holdings of the company. Virtu Financial LLC acquired a new position in Fuel Tech in the 4th quarter valued at $26,000. XTX Topco Ltd bought a new stake in Fuel Tech during the fourth quarter valued at about $27,000. Millennium Management LLC grew its position in shares of Fuel Tech by 70.1% in the fourth 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 during the last quarter. Essex Investment Management Co. LLC increased its stake in shares of Fuel Tech by 11.8% in the first quarter. Essex Investment Management Co. LLC now owns 124,241 shares of the industrial products company's stock worth $130,000 after purchasing an additional 13,106 shares during the period. Finally, Peapod Lane Capital LLC bought a new position in shares of Fuel Tech in the fourth quarter worth about $1,027,000. 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.