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

Key Points

• Fuel Tech shares rose above their 200-day moving average, reaching $1.87 before closing at $1.77, compared with the moving average of $1.48.
• Analyst sentiment remains negative: Wall Street Zen upgraded the stock to “hold,” but Zacks Research lowered it to “strong sell” and Weiss Ratings maintained a “sell” rating. MarketBeat reports an overall “Sell” consensus.
• Fuel Tech missed quarterly expectations, reporting a $0.04 per-share loss versus a projected $0.02 loss and revenue of $6.49 million versus $6.58 million expected. Hedge funds and institutions own about 20.94% of the company.

Fuel Tech, Inc. (NASDAQ:FTEK - Get Free Report) shares crossed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $1.48 and traded as high as $1.87. Fuel Tech shares last traded at $1.77, with a volume of 93,802 shares.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. Wall Street Zen upgraded shares of Fuel Tech from a "sell" rating to a "hold" rating in a research report on Saturday, September 5th. Zacks Research cut Fuel Tech from a "hold" rating to a "strong sell" rating in a report on Friday, August 7th. Finally, Weiss Ratings restated a "sell (d-)" rating on shares of Fuel Tech in a report on Friday, September 11th. Two investment analysts have rated the stock with a Sell rating, Based on data from MarketBeat.com, the company presently has an average rating of "Sell".

Fuel Tech Stock Performance

The stock has a market capitalization of $55.26 million, a PE ratio of -16.09 and a beta of 1.30. The company's fifty day simple moving average is $1.52 and its two-hundred day simple moving average is $1.48.

Fuel Tech (NASDAQ:FTEK - Get Free Report) last issued its quarterly earnings data on Tuesday, August 4th. The industrial products company reported ($0.04) earnings per share for the quarter, missing analysts' consensus estimates of ($0.02) by ($0.02). The business had revenue of $6.49 million for the quarter, compared to analysts' expectations of $6.58 million. Fuel Tech had a negative return on equity of 8.88% and a negative net margin of 12.75%. Sell-side analysts forecast that Fuel Tech, Inc. will post -0.13 EPS for the current fiscal year.

Institutional Investors Weigh In On Fuel Tech

Hedge funds and other institutional investors have recently modified their holdings of the company. Group One Trading LLC purchased a new stake in Fuel Tech in the 2nd quarter worth approximately $31,000. Marquette Asset Management LLC acquired a new stake in shares of Fuel Tech during the second quarter worth $244,000. GSA Capital Partners LLP purchased a new stake in shares of Fuel Tech in the second quarter valued at $652,000. BlackRock Inc. acquired a new position in Fuel Tech in the second quarter valued at $1,097,000. Finally, Renaissance Technologies LLC increased its stake in Fuel Tech by 22.6% in the first quarter. Renaissance Technologies LLC now owns 1,407,806 shares of the industrial products company's stock valued at $1,718,000 after purchasing an additional 259,811 shares during the last quarter. 20.94% of the stock is currently owned by hedge funds and other institutional investors.

Fuel Tech Company Profile

Fuel Tech, Inc NASDAQ: FTEK develops and commercializes technologies designed to improve industrial combustion processes and reduce air pollution. Its solutions are used primarily by utility, industrial, refining, cement, steel, and waste-to-energy facilities.

The company's Air Pollution Control technologies address nitrogen oxide (NOx) emissions from combustion sources. Its offerings include selective non-catalytic reduction and related systems, including the NOxOUT and HERT technologies, which are designed to help customers meet environmental regulations while maintaining operating efficiency.

Fuel Tech also provides fuel-treatment and combustion-optimization products through its FUEL CHEM business.

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