4 hours Ago By Defense World Staff
Renaissance Technologies LLC increased its holdings in Fuel Tech, Inc. ( NASDAQ:FTEK – Free Report ) by 15.3% during the 4th quarter, according to the company in its most recent disclosure with the SEC.
The institutional investor owned 1,039,609 shares of the industrial products company’s stock after acquiring an additional 138,169 shares during the quarter. Renaissance Technologies LLC owned approximately 3.39% of Fuel Tech worth $1,092,000 as of its most recent filing with the SEC.
Separately, Virtu Financial LLC acquired a new position in shares of Fuel Tech in the 4th quarter valued at approximately $26,000. 20.94% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In A number of analysts recently issued reports on FTEK shares. StockNews.com began coverage on shares of Fuel Tech in a research note on Sunday.
They issued a “hold” rating for the company. HC Wainwright reissued a “buy” rating and issued a $4.00 target price on shares of Fuel Tech in a research report on Thursday, March 6th.
Fuel Tech Stock Performance Shares of FTEK opened at $0.96 on Thursday. The firm has a market cap of $29.
57 million, a price-to-earnings ratio of -48.05 and a beta of 4.11.
Fuel Tech, Inc. has a 52 week low of $0.87 and a 52 week high of $1.
34. The stock has a 50 day moving average of $0.98 and a 200-day moving average of $1.
01. Fuel Tech ( NASDAQ:FTEK – Get Free Report ) last released its quarterly earnings data on Tuesday, March 4th. The industrial products company reported ($0.
06) EPS for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.03).
The business had revenue of $5.28 million during the quarter, compared to analyst estimates of $5.63 million.
Fuel Tech had a negative return on equity of 1.37% and a negative net margin of 2.29%.
During the same period in the prior year, the firm earned ($0.02) EPS. On average, sell-side analysts predict that Fuel Tech, Inc.
will post -0.03 earnings per share for the current fiscal year. About Fuel Tech ( Free Report ) Fuel Tech, Inc provides boiler optimization, efficiency improvement, and air pollution reduction and control solutions to utility and industrial customers worldwide.
The company operates through Air Pollution Control Technology and FUEL CHEM Technology segments. The Air Pollution Control Technology segment offers technologies to reduce nitrogen oxide (NOx) emissions in flue gas from boilers, incinerators, furnaces, and other stationary combustion sources; NOxOUT and HERT selective non-catalytic reduction systems; selective catalytic reduction systems comprising ammonia injection grid, and graduated straightening grid systems; I-NOx systems; ESP Processes and Services; ULTRA technology; and flue gas conditioning systems. Read More Five stocks we like better than Fuel Tech Utilities Stocks Explained – How and Why to Invest in Utilities Why D-Wave’s Project With Davidson Is a Game-Changer For Quantum Market Cap Calculator: How to Calculate Market Cap Hims & Hers Stock Soars on Novo Nordisk Collaboration Want to Profit on the Downtrend? Downtrends, Explained.
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