Fuel Tech (NASDAQ:FTEK) Stock Price Passes Above 200 Day Moving Average – What’s Next?

Fuel Tech, Inc. (NASDAQ:FTEK) shares passed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $1.44 and traded as high as $2.35. Fuel Tech shares last traded at $1.99, with a volume of 7,685,689 shares changing hands.

Analyst Upgrades and Downgrades

FTEK has been the subject of several research analyst reports. Zacks Research cut shares of Fuel Tech from a “hold” rating to a “strong sell” rating in a report on Friday, May 8th. Weiss Ratings upgraded shares of Fuel Tech from a “sell (e+)” rating to a “sell (d-)” rating in a report on Monday, June 15th. Finally, Wall Street Zen cut shares of Fuel Tech from a “hold” rating to a “sell” rating in a research report on Saturday, May 9th. Two analysts have rated the stock with a Sell rating, According to MarketBeat, the company has a consensus rating of “Sell”.

Fuel Tech Stock Down 3.0%

The firm has a market cap of $60.15 million, a P/E ratio of -21.44 and a beta of 1.33. The firm has a fifty day moving average of $1.45 and a 200-day moving average of $1.44.

Fuel Tech (NASDAQ:FTEK) last posted its quarterly earnings results on Tuesday, May 5th. The industrial products company reported ($0.04) earnings per share for the quarter. The company had revenue of $6.08 million during the quarter, compared to the consensus estimate 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 analysts forecast that Fuel Tech, Inc. will post -0.12 EPS for the current year.

Hedge Funds Weigh In On Fuel Tech

Several hedge funds and other institutional investors have recently made changes to their positions in FTEK. Virtu Financial LLC acquired a new position in Fuel Tech during the fourth quarter worth $27,000. Prelude Capital Management LLC acquired a new stake in Fuel Tech in the third quarter valued at $40,000. NewEdge Advisors LLC lifted its stake in Fuel Tech by 35,206.0% in the third quarter. NewEdge Advisors LLC now owns 17,653 shares of the industrial products company’s stock valued at $53,000 after acquiring an additional 17,603 shares during the last quarter. Marshall Wace LLP bought a new position in shares of Fuel Tech in the 2nd quarter valued at about $63,000. Finally, Advisory Services Network LLC grew its position in shares of Fuel Tech by 44.2% in the 3rd quarter. Advisory Services Network LLC now owns 21,627 shares of the industrial products company’s stock valued at $65,000 after acquiring an additional 6,627 shares during the period. 20.94% of the stock is 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.