Fuel Tech (NASDAQ:FTEK) Stock Price Crosses Above 200 Day Moving Average – Here’s Why

Fuel Tech, Inc. (NASDAQ:FTEK)’s share price crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $1.49 and traded as high as $1.53. Fuel Tech shares last traded at $1.51, with a volume of 204,797 shares changing hands.

Analyst Ratings Changes

A number of research firms recently weighed in on FTEK. Weiss Ratings raised shares of Fuel Tech from a “sell (e+)” rating to a “sell (d-)” rating in a report on Monday, May 18th. Wall Street Zen lowered shares of Fuel Tech from a “hold” rating to a “sell” rating in a report on Saturday, May 9th. Finally, Zacks Research lowered shares of Fuel Tech from a “hold” rating to a “strong sell” rating in a report on Friday, May 8th. Two research analysts have rated the stock with a Sell rating, Based on data from MarketBeat.com, Fuel Tech presently has an average rating of “Sell”.

Fuel Tech Stock Down 2.0%

The firm’s 50 day simple moving average is $1.37 and its 200 day simple moving average is $1.49. The company has a market capitalization of $46.13 million, a PE ratio of -16.44 and a beta of 1.38.

Fuel Tech (NASDAQ:FTEK) last posted its quarterly earnings data on Tuesday, May 5th. The industrial products company reported ($0.04) EPS for the quarter. The firm had revenue of $6.08 million for the quarter, compared to analysts’ expectations of $7.62 million. Fuel Tech had a negative return on equity of 7.34% and a negative net margin of 11.15%. As a group, sell-side analysts predict that Fuel Tech, Inc. will post -0.12 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Virtu Financial LLC purchased a new position in Fuel Tech during the fourth quarter worth $27,000. Covestor Ltd purchased a new position in Fuel Tech during the third quarter worth $40,000. Prelude Capital Management LLC bought a new stake in shares of Fuel Tech during the third quarter worth $40,000. NewEdge Advisors LLC lifted its position in shares of Fuel Tech by 35,206.0% during the third quarter. NewEdge Advisors LLC now owns 17,653 shares of the industrial products company’s stock worth $53,000 after purchasing an additional 17,603 shares during the last quarter. Finally, Marshall Wace LLP bought a new stake in shares of Fuel Tech during the second quarter worth $63,000. 20.94% of the stock is owned by hedge funds and other institutional investors.

About Fuel Tech

Fuel Tech, Inc (NASDAQ: FTEK) is a specialty technology and engineering company focused on developing and supplying clean air solutions for the power generation and industrial markets. The company designs, manufactures and markets proprietary chemical reagents and process control systems that help customers reduce emissions of nitrogen oxides (NOx), mercury and other air pollutants. Its technology platform combines advanced process modeling, plant optimization software and field testing services to help utilities and industrial facilities comply with environmental regulations and improve operational efficiency.

Fuel Tech’s core product lines include selective catalytic reduction (SCR) optimization systems, activated carbon injection solutions for mercury capture, and sorbent enhancement additives for flue gas desulfurization processes.