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

Fuel Tech, Inc. (NASDAQ:FTEK - Get Free Report) shares crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $1.10 and traded as high as $1.88. Fuel Tech shares last traded at $1.83, with a volume of 108,752 shares traded.

Wall Street Analyst Weigh In

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

Fuel Tech Stock Performance

The stock has a 50-day moving average price of $1.28 and a 200-day moving average price of $1.10. The stock has a market cap of $56.32 million, a P/E ratio of -91.50 and a beta of 4.48.

Fuel Tech (NASDAQ:FTEK - Get Free Report) last posted its earnings results on Monday, May 12th. The industrial products company reported ($0.02) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.02). The firm had revenue of $6.38 million for the quarter, compared to analysts' expectations of $6.64 million. Fuel Tech had a negative return on equity of 1.37% and a negative net margin of 2.29%. Sell-side analysts forecast that Fuel Tech, Inc. will post -0.03 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the company. Virtu Financial LLC purchased a new stake in Fuel Tech in the fourth quarter worth about $26,000. XTX Topco Ltd purchased a new position in shares of Fuel Tech in the 4th quarter worth approximately $27,000. Millennium Management LLC boosted 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 purchasing an additional 24,129 shares during the period. Essex Investment Management Co. LLC boosted 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 purchasing an additional 13,106 shares during the period. Finally, Renaissance Technologies LLC lifted its stake in shares of Fuel Tech by 15.3% during the 4th quarter. Renaissance Technologies LLC now owns 1,039,609 shares of the industrial products company's stock worth $1,092,000 after acquiring an additional 138,169 shares during the last quarter. 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.

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