Fuel Tech (NASDAQ:FTEK) Upgraded to Hold at Wall Street Zen

Fuel Tech (NASDAQ:FTEK - Get Free Report) was upgraded by stock analysts at Wall Street Zen to a "hold" rating in a research note issued on Saturday.

Fuel Tech Trading Down 0.7%

FTEK stock opened at $2.86 on Friday. The stock has a market capitalization of $88.03 million, a PE ratio of -31.78 and a beta of 4.56. Fuel Tech has a 12-month low of $0.87 and a 12-month high of $2.96. The stock's 50 day simple moving average is $1.71 and its 200 day simple moving average is $1.24.

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

Hedge Funds Weigh In On Fuel Tech

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Virtu Financial LLC bought a new position in Fuel Tech during the fourth quarter valued at approximately $26,000. Renaissance Technologies LLC lifted its holdings 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 valued at $1,092,000 after buying an additional 138,169 shares during the period. XTX Topco Ltd bought a new position in shares of Fuel Tech during the 4th quarter valued at $27,000. Millennium Management LLC lifted its holdings in shares of Fuel Tech by 70.1% during the 4th quarter. Millennium Management LLC now owns 58,571 shares of the industrial products company's stock valued at $62,000 after buying an additional 24,129 shares during the period. Finally, Grace & White Inc. NY lifted its holdings in shares of Fuel Tech by 1.7% during the 1st quarter. Grace & White Inc. NY now owns 1,899,149 shares of the industrial products company's stock valued at $1,994,000 after buying an additional 31,022 shares during the period. 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.

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