Renaissance Technologies LLC recently announced the acquisition of new stake in Fuel Tech Inc. (NASDAQ:FTEK). The institutional investor has increased its shareholding in the Industrials company by 0.92% to 0.78 million shares with purchase of 7100.0 shares. This fresh investment now brings its stake to 2.56% valued currently at $0.99 million. In addition, Geode Capital Management LLC raised its holdings by 9963.0 to 0.39 million shares.
With over 0.11 million Fuel Tech Inc. (FTEK) shares trading Tuesday and a closing price of $1.64 on the day, the dollar volume was approximately $0.18 million. The shares have shown a positive half year performance of 35.95% and its price on 01/24/23 lost nearly -1.49%. Currently, there are 30.30M common shares owned by the public and among those 23.48M shares have been available to trade.
An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 1 analysts who have offered their price forecasts for FTEK have a consensus price objective of $4.00. The analysts have set the share’s price value over the next 12 months at a high of $4.00 and a low of $4.00. But an upside of 59.0% will see the stock hit the forecast high price target while median target price for the stock is $4.00.
Insiders at the company have transacted a total of 1 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 1 of these insider trades were purchases, accounting for 20,000 shares. Insider sales of the common stock occurred on 0 occasions, with total insider shares sold totaling 0 shares.
The top 3 mutual fund holders in Fuel Tech Inc. are Vanguard Total Stock Market Index, Vanguard Extended Market Index Fu, and Fidelity Nasdaq Composite Index E. Vanguard Total Stock Market Index owns 0.42 million shares of the company’s stock, all valued at over $0.54 million. Vanguard Extended Market Index Fu bought 412.0 shares to see its total holdings expand to 0.35 million shares valued at over $0.44 million and representing 1.15% of the shares outstanding. Fidelity Nasdaq Composite Index E bought 1968.0 shares to bring its total holdings to over 0.22 million shares at a value of $0.28 million. Fidelity Nasdaq Composite Index E now owns shares totaling to 0.72% of the shares outstanding.
Shares of Fuel Tech Inc. (NASDAQ: FTEK) opened at $1.69, up $0.02 from a prior closing price of $1.67. However, the script later moved the day high at 1.7000, down -1.49%. The company’s stock has a 5-day price change of 5.45% and 40.60% over the past three months. FTEK shares are trading 29.02% year to date (YTD), with the 12-month market performance up to 45.58% higher. It has a 12-month low price of $1.02 and touched a high of $1.75 over the same period. FTEK has an average intraday trading volume of 85.49K shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 9.15%, 15.50%, and 25.39% respectively.
Institutional ownership of Fuel Tech Inc. (NASDAQ: FTEK) shares accounts for 17.60% of the company’s 30.30M shares outstanding. Mutual fund holders own 32.72%, while other institutional holders and individual stakeholders account for 4.11% and 13.23% respectively.
It has a market capitalization of $50.44M and a beta (3y monthly) value of 4.32. The earnings-per-share (ttm) stands at -$0.04. Price movements for the stock have been influenced by the stock’s volatility, which stands at 5.74% over the week and 6.39% over the month.
Analysts forecast that Fuel Tech Inc. (FTEK) will achieve an EPS of -$0.02 for the current quarter, -$0.04 for the next quarter and -$0.01 for 2023. The lowest estimate earnings-per-share for the quarter is -$0.02 while analysts give the company a high EPS estimate of -$0.02. Comparatively, EPS for the current quarter was $0.02 a year ago. Earnings per share for the fiscal year are expected to increase by 101.10%, and 116.70% over the next financial year. EPS should shrink at an annualized rate of 12.10% over the next five years, compared to 14.90% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 1 brokerage firm advisors rate Fuel Tech Inc. (FTEK) as a “Moderate Buy” at a consensus score of 2.00. Specifically, 1 Wall Street analysts polled rate the stock as a buy, while 0 of the 1 advise that investors “hold,” and 0 rated it as a “Sell.”
Brean Murray coverage for the Fuel Tech Inc. (FTEK) stock in a research note released on February 23, 2012 offered a Buy rating with a price target of $8. Avondale was of a view on June 09, 2010 that the stock is Mkt Outperform, while Brean Murray gave the stock Buy rating on October 16, 2009, issuing a price target of $13. AmTech Research on their part issued Neutral rating on April 06, 2009.