Fuel Tech (NASDAQ:FTEK) Stock Crosses Above Two Hundred Day Moving Average – Here’s Why
by Jessica Moore · The Cerbat GemFuel Tech, Inc. (NASDAQ:FTEK – Get Free Report)’s share price crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $1.47 and traded as high as $1.50. Fuel Tech shares last traded at $1.46, with a volume of 179,570 shares traded.
Analyst Upgrades and Downgrades
Several equities research analysts recently issued reports on FTEK shares. Wall Street Zen cut shares of Fuel Tech from a “hold” rating to a “sell” rating in a research report on Saturday, May 9th. Weiss Ratings cut shares of Fuel Tech from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Monday. Finally, Zacks Research cut shares of 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.com, Fuel Tech has an average rating of “Sell”.
Get Our Latest Research Report on FTEK
Fuel Tech Price Performance
The company’s 50 day moving average price is $1.40 and its 200 day moving average price is $1.47. The firm has a market cap of $42.38 million, a PE ratio of -15.11 and a beta of 1.33.
Fuel Tech (NASDAQ:FTEK – Get Free Report) last posted its quarterly earnings data on Tuesday, May 5th. The industrial products company reported ($0.04) EPS for the quarter. Fuel Tech had a negative net margin of 11.15% and a negative return on equity of 7.34%. The business had revenue of $6.08 million during the quarter, compared to analysts’ expectations of $7.62 million. Sell-side analysts expect that Fuel Tech, Inc. will post -0.12 earnings per share for the current fiscal year.
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently made changes to their positions in the business. Advisory Services Network LLC boosted its stake in shares of 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. State Street Corp lifted its stake in Fuel Tech by 7.1% in the fourth quarter. State Street Corp now owns 121,846 shares of the industrial products company’s stock worth $190,000 after acquiring an additional 8,100 shares during the last quarter. Group One Trading LLC lifted its stake in Fuel Tech by 26.1% in the fourth quarter. Group One Trading LLC now owns 42,509 shares of the industrial products company’s stock worth $66,000 after acquiring an additional 8,803 shares during the last quarter. Prelude Capital Management LLC purchased a new position in Fuel Tech in the third quarter worth approximately $40,000. Finally, Virtu Financial LLC purchased a new position in Fuel Tech in the fourth quarter worth approximately $27,000. Hedge funds and other institutional investors own 20.94% of the company’s stock.
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.