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

Wall Street Zen upgraded shares of Fuel Tech (NASDAQ:FTEK - Free Report) to a hold rating in a research note released on Saturday morning.

Fuel Tech Stock Performance

Fuel Tech stock traded down $0.06 during mid-day trading on Friday, reaching $2.84. The company's stock had a trading volume of 371,531 shares, compared to its average volume of 163,376. Fuel Tech has a 12 month low of $0.87 and a 12 month high of $2.99. The business's 50 day simple moving average is $1.79 and its 200 day simple moving average is $1.27. The company has a market capitalization of $87.42 million, a price-to-earnings ratio of -31.56 and a beta of 4.56.

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

Institutional Investors Weigh In On Fuel Tech

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Virtu Financial LLC acquired a new position in Fuel Tech during the fourth quarter worth $26,000. Renaissance Technologies LLC grew its position in shares of Fuel Tech by 15.3% in 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 acquiring an additional 138,169 shares during the period. XTX Topco Ltd acquired a new position in shares of Fuel Tech during the 4th quarter worth about $27,000. Millennium Management LLC increased its stake 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 worth $62,000 after purchasing an additional 24,129 shares during the last quarter. Finally, Grace & White Inc. NY raised its holdings in shares of Fuel Tech by 1.7% in 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 purchasing 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.