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

Key Points

• Fuel Tech shares crossed above their 200-day moving average, reaching $1.71 before last trading at $1.65; the 200-day average was $1.51.
• Analyst sentiment remains negative: two analysts rate the stock “Sell,” and its average MarketBeat rating is “Sell,” despite one firm upgrading it to “Hold.”
• The company 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. Institutional investors own 20.94% of the stock.

Fuel Tech, Inc. (NASDAQ:FTEK - Get Free Report) shares passed above its 200-day moving average during trading on Monday. The stock has a 200-day moving average of $1.51 and traded as high as $1.71. Fuel Tech shares last traded at $1.65, with a volume of 71,092 shares traded.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on FTEK shares. Zacks Research lowered Fuel Tech from a "hold" rating to a "strong sell" rating in a research report on Friday, August 7th. Weiss Ratings reissued a "sell (d-)" rating on shares of Fuel Tech in a report on Friday, September 11th. Finally, Wall Street Zen raised Fuel Tech from a "sell" rating to a "hold" rating in a report on Saturday, September 5th. Two research analysts have rated the stock with a Sell rating, According to data from MarketBeat, the stock presently has an average rating of "Sell".

Fuel Tech Stock Down 0.6%

The firm has a market capitalization of $51.51 million, a PE ratio of -15.00 and a beta of 1.28. The firm's fifty day simple moving average is $1.54 and its 200-day simple moving average is $1.51.

Fuel Tech (NASDAQ:FTEK - Get Free Report) last issued its earnings results on Tuesday, August 4th. The industrial products company reported ($0.04) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.02) by ($0.02). The firm had revenue of $6.49 million during the quarter, compared to the consensus estimate of $6.58 million. Fuel Tech had a negative return on equity of 8.88% and a negative net margin of 12.75%. As a group, analysts predict that Fuel Tech, Inc. will post -0.13 earnings per share for the current year.

Institutional Trading of Fuel Tech

A number of institutional investors and hedge funds have recently modified their holdings of FTEK. BlackRock Inc. purchased a new position in Fuel Tech in the 2nd quarter worth about $1,097,000. GSA Capital Partners LLP purchased a new stake in shares of Fuel Tech during the 2nd quarter valued at about $652,000. Renaissance Technologies LLC grew its stake in shares of 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 worth $1,718,000 after acquiring an additional 259,811 shares during the period. Marquette Asset Management LLC bought a new stake in shares of Fuel Tech in the second quarter worth approximately $244,000. Finally, Grace & White Inc. NY raised its holdings in shares of Fuel Tech by 3.7% during the first quarter. Grace & White Inc. NY now owns 1,541,307 shares of the industrial products company's stock valued at $1,880,000 after purchasing an additional 55,424 shares during the last quarter. Institutional investors own 20.94% of the company's stock.

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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