Fuel Tech (NASDAQ:FTEK) Stock Price Passes Above 200 Day Moving Average - Should You Sell?

Key Points

• Fuel Tech's stock price has surpassed its 200-day moving average, reaching a high of $2.89 before closing at $2.81, with a trading volume of 222,966 shares.
• Wall Street analysts upgraded Fuel Tech to a "hold" rating, citing expectations for the company's growth despite recent fluctuations.
• The company reported a quarterly earnings of ($0.02) EPS, slightly beating estimates, but its revenue fell short at $5.56 million compared to the expected $6.09 million.

Fuel Tech, Inc. (NASDAQ:FTEK - Get Free Report)'s stock price passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $1.62 and traded as high as $2.89. Fuel Tech shares last traded at $2.81, with a volume of 222,966 shares traded.

Wall Street Analysts Forecast Growth

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

Fuel Tech Price Performance

The business has a fifty day moving average of $2.66 and a 200 day moving average of $1.67. The stock has a market cap of $86.06 million, a price-to-earnings ratio of -27.70 and a beta of 4.63.

Fuel Tech (NASDAQ:FTEK - Get Free Report) last announced its 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. The firm had revenue of $5.56 million during the quarter, compared to analysts' expectations of $6.09 million. Fuel Tech had a negative return on equity of 7.70% and a negative net margin of 12.89%. On average, analysts expect that Fuel Tech, Inc. will post -0.03 EPS for the current year.

Institutional Investors Weigh In On Fuel Tech

A number of large investors have recently added to or reduced their stakes in the stock. Grace & White Inc. NY boosted its position in Fuel Tech by 1.7% during 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 during the period. Renaissance Technologies LLC boosted its position in Fuel Tech by 15.3% during the fourth quarter. Renaissance Technologies LLC now owns 1,039,609 shares of the industrial products company's stock worth $1,092,000 after purchasing an additional 138,169 shares during the period. Geode Capital Management LLC boosted its position in Fuel Tech by 3.6% during 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 period. Essex Investment Management Co. LLC boosted its position in Fuel Tech by 11.8% during 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, Millennium Management LLC boosted its position in Fuel Tech by 70.1% during the fourth 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 during the period. Institutional investors own 20.94% of the company's stock.

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.