Fuel Tech (NASDAQ:FTEK) Share Price Passes Above 200 Day Moving Average - What's Next?

Fuel Tech, Inc. (NASDAQ:FTEK - Get Free Report)'s stock price 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.

Analyst Ratings Changes

Several research firms have recently commented on FTEK. HC Wainwright reaffirmed a "buy" rating and issued a $4.00 price target on shares of Fuel Tech in a report on Thursday, March 6th. Wall Street Zen assumed coverage on Fuel Tech in a research note on Wednesday, May 21st. They issued a "hold" rating for the company.

Fuel Tech Stock Performance

The stock has a 50 day moving average of $1.32 and a 200 day moving average of $1.11. The stock has a market capitalization of $62.48 million, a P/E ratio of -22.56 and a beta of 4.48.

Fuel Tech (NASDAQ:FTEK - Get Free Report) last released its quarterly earnings results on Monday, May 12th. The industrial products company reported ($0.02) EPS for the quarter, hitting the consensus estimate of ($0.02). The business had revenue of $6.38 million during the quarter, compared to analyst estimates of $6.64 million. Fuel Tech had a negative net margin of 11.16% and a negative return on equity of 6.94%. On average, research analysts anticipate that Fuel Tech, Inc. will post -0.03 EPS for the current fiscal year.

Institutional Investors Weigh In On Fuel Tech

Several large investors have recently made changes to their positions in FTEK. Virtu Financial LLC bought a new position in Fuel Tech in the 4th quarter worth approximately $26,000. XTX Topco Ltd bought a new position in shares of Fuel Tech in the fourth quarter worth $27,000. Millennium Management LLC grew its stake 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 worth $62,000 after purchasing an additional 24,129 shares in the last quarter. Essex Investment Management Co. LLC increased its holdings in shares of 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 valued at $130,000 after purchasing an additional 13,106 shares during the period. Finally, Renaissance Technologies LLC raised its stake in shares of 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 valued at $1,092,000 after purchasing an additional 138,169 shares in the last quarter. Institutional investors and hedge funds 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.