Fuel Tech (NASDAQ:FTEK) Share Price Crosses Above 200-Day Moving Average – Here’s What Happened

Fuel Tech, Inc. (NASDAQ:FTEK)’s stock price crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $1.45 and traded as high as $1.51. Fuel Tech shares last traded at $1.42, with a volume of 157,548 shares traded.

Analysts Set New Price Targets

Several research firms have recently weighed in on FTEK. Zacks Research lowered shares of Fuel Tech from a “hold” rating to a “strong sell” rating in a report on Friday, August 7th. Wall Street Zen cut Fuel Tech from a “hold” rating to a “sell” rating in a research note on Saturday, May 9th. Finally, Weiss Ratings raised Fuel Tech from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Monday, June 15th. Two research analysts have rated the stock with a Sell rating, According to MarketBeat, the stock has a consensus rating of “Sell”.

Fuel Tech Stock Up 1.8%

The business’s 50-day simple moving average is $1.58 and its two-hundred day simple moving average is $1.45. The stock has a market cap of $43.24 million, a P/E ratio of -12.59 and a beta of 1.30.

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

Institutional Investors Weigh In On Fuel Tech

A number of hedge funds have recently modified their holdings of the business. Integrated Wealth Concepts LLC acquired a new stake in Fuel Tech in the 3rd quarter valued at approximately $105,000. Group One Trading LLC boosted its position in shares of Fuel Tech by 26.1% in the 4th quarter. Group One Trading LLC now owns 42,509 shares of the industrial products company’s stock worth $66,000 after buying an additional 8,803 shares in the last quarter. Advisory Services Network LLC grew its holdings in Fuel Tech by 44.2% in the third quarter. Advisory Services Network LLC now owns 21,627 shares of the industrial products company’s stock valued at $65,000 after purchasing an additional 6,627 shares during the period. Marshall Wace LLP purchased a new position in shares of Fuel Tech in the 2nd quarter valued at $63,000. Finally, NewEdge Advisors LLC boosted its position in Fuel Tech by 35,206.0% in the 3rd quarter. NewEdge Advisors LLC now owns 17,653 shares of the industrial products company’s stock valued at $53,000 after buying an additional 17,603 shares during the last quarter. 20.94% of the stock is currently owned by institutional investors and hedge funds.

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.