Fuel Tech (NASDAQ:FTEK) Share Price Crosses Above Two Hundred Day Moving Average – Here’s Why

Shares of Fuel Tech, Inc. (NASDAQ:FTEK) crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $1.45 and traded as high as $2.28. Fuel Tech shares last traded at $2.21, with a volume of 551,862 shares traded.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on FTEK. Wall Street Zen lowered Fuel Tech from a “hold” rating to a “sell” rating in a report on Saturday, May 9th. Weiss Ratings upgraded Fuel Tech from a “sell (e+)” rating to a “sell (d-)” rating in a report on Monday, June 15th. Finally, Zacks Research lowered Fuel Tech from a “hold” rating to a “strong sell” rating in a research report on Friday, May 8th. Two analysts have rated the stock with a Sell rating, According to MarketBeat, the stock presently has a consensus rating of “Sell”.

Fuel Tech Price Performance

The company has a fifty day moving average price of $1.54 and a 200 day moving average price of $1.46. The company has a market capitalization of $58.29 million, a P/E ratio of -20.78 and a beta of 1.23.

Fuel Tech (NASDAQ:FTEK) last released its quarterly earnings data on Tuesday, May 5th. The industrial products company reported ($0.04) earnings per share (EPS) for the quarter. The company had revenue of $6.08 million for the quarter, compared to analyst estimates of $7.62 million. Fuel Tech had a negative net margin of 11.15% and a negative return on equity of 7.34%. On average, equities research analysts predict that Fuel Tech, Inc. will post -0.12 earnings per share for the current fiscal year.

Institutional Trading of Fuel Tech

Several hedge funds have recently bought and sold shares of FTEK. Grace & White Inc. NY grew its position in Fuel Tech by 3.7% in the 1st quarter. Grace & White Inc. NY now owns 1,541,307 shares of the industrial products company’s stock worth $1,880,000 after purchasing an additional 55,424 shares during the last quarter. Renaissance Technologies LLC boosted its position in shares of Fuel Tech by 22.6% during the first quarter. Renaissance Technologies LLC now owns 1,407,806 shares of the industrial products company’s stock worth $1,718,000 after buying an additional 259,811 shares during the period. Vanguard Group Inc. grew its holdings in Fuel Tech by 7.7% in the 3rd quarter. Vanguard Group Inc. now owns 1,013,864 shares of the industrial products company’s stock worth $3,042,000 after buying an additional 72,895 shares in the last quarter. Geode Capital Management LLC increased its position in Fuel Tech by 3.6% in the 2nd quarter. Geode Capital Management LLC now owns 517,658 shares of the industrial products company’s stock valued at $1,305,000 after acquiring an additional 17,766 shares during the period. Finally, Mercuria Capital Strategies LLC acquired a new stake in Fuel Tech in the 3rd quarter valued at approximately $720,000. 20.94% of the stock is currently owned by 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.