Fuel Tech (NASDAQ:FTEK) Stock Crosses Above 200 Day Moving Average – Should You Sell?
by Danessa Lincoln · The Markets DailyFuel Tech, Inc. (NASDAQ:FTEK – Get Free Report)’s stock price crossed above its two hundred day moving average during trading on Wednesday. The stock has a two hundred day moving average of $1.48 and traded as high as $1.56. Fuel Tech shares last traded at $1.56, with a volume of 122,398 shares traded.
Wall Street Analyst Weigh In
Several research firms recently commented on FTEK. Zacks Research raised shares of Fuel Tech from a “strong sell” rating to a “hold” rating in a research report on Monday, October 5th. Wall Street Zen upgraded Fuel Tech from a “sell” rating to a “hold” rating in a report on Saturday, September 5th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Fuel Tech in a research note on Friday, September 11th. One research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Reduce”.
Read Our Latest Research Report on FTEK
Fuel Tech Stock Down 2.0%
The stock’s fifty day moving average price is $1.57 and its 200-day moving average price is $1.48. The company has a market capitalization of $45.27 million, a price-to-earnings ratio of -13.18 and a beta of 1.28.
Fuel Tech (NASDAQ:FTEK – Get Free Report) last announced its earnings results on Tuesday, August 4th. The industrial products company reported ($0.04) EPS for the quarter, missing the consensus estimate 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 for the quarter, compared to analyst estimates of $6.58 million. Analysts anticipate that Fuel Tech, Inc. will post -0.13 EPS for the current year.
Hedge Funds Weigh In On Fuel Tech
Hedge funds have recently modified their holdings of the stock. Group One Trading LLC bought a new stake in Fuel Tech during the second quarter worth about $31,000. BlackRock Inc. bought a new position in Fuel Tech in the second quarter valued at approximately $1,097,000. GSA Capital Partners LLP bought a new position in Fuel Tech in the second quarter valued at approximately $652,000. Marquette Asset Management LLC bought a new position in Fuel Tech in the second quarter valued at approximately $244,000. Finally, Renaissance Technologies LLC increased its position in shares of Fuel Tech by 22.6% during the 1st quarter. Renaissance Technologies LLC now owns 1,407,806 shares of the industrial products company’s stock worth $1,718,000 after purchasing an additional 259,811 shares during the last quarter. Institutional investors own 20.94% of the company’s stock.
About Fuel Tech
Fuel Tech, Inc is a technology company that develops and commercializes solutions for air pollution control, combustion optimization, and fuel treatment. Its products and services are designed primarily for utility, industrial, and other large combustion facilities seeking to improve operating performance and reduce emissions.
The company’s air pollution control technologies focus on reducing nitrogen oxide emissions from boilers, furnaces, and other combustion equipment. Its offerings include selective and non-selective catalytic reduction systems, related reagent-injection technologies, engineering services, and software and controls used to monitor and optimize emissions-control processes.
Fuel Tech also provides fuel-treatment and combustion-enhancement technologies under its Fuel Chem business.