StockNews.com Initiates Coverage on Fuel Tech (NASDAQ:FTEK)

by · The Cerbat Gem

Research analysts at StockNews.com began coverage on shares of Fuel Tech (NASDAQ:FTEK – Get Free Report) in a research report issued to clients and investors on Tuesday. The brokerage set a “hold” rating on the industrial products company’s stock.

Fuel Tech Stock Performance

NASDAQ:FTEK opened at $1.01 on Tuesday. Fuel Tech has a 52 week low of $0.91 and a 52 week high of $1.34. The firm has a market cap of $30.69 million, a price-to-earnings ratio of -33.67 and a beta of 4.13. The firm’s 50-day simple moving average is $1.01 and its 200 day simple moving average is $1.09.

Fuel Tech (NASDAQ:FTEK – Get Free Report) last released its quarterly earnings results on Tuesday, August 6th. The industrial products company reported ($0.01) EPS for the quarter, topping analysts’ consensus estimates of ($0.02) by $0.01. The business had revenue of $7.04 million for the quarter, compared to analyst estimates of $5.81 million. Fuel Tech had a negative net margin of 0.84% and a negative return on equity of 0.50%. During the same period last year, the firm earned ($0.03) earnings per share. Sell-side analysts anticipate that Fuel Tech will post -0.02 EPS for the current year.

Institutional Investors Weigh In On Fuel Tech

A number of large investors have recently bought and sold shares of FTEK. Essex Investment Management Co. LLC grew its stake in Fuel Tech by 42.6% during the first quarter. Essex Investment Management Co. LLC now owns 401,159 shares of the industrial products company’s stock worth $485,000 after buying an additional 119,763 shares in the last quarter. Renaissance Technologies LLC boosted its position in Fuel Tech by 5.4% during the 2nd quarter. Renaissance Technologies LLC now owns 874,618 shares of the industrial products company’s stock worth $936,000 after buying an additional 44,512 shares during the period. Finally, Marquette Asset Management LLC boosted its position in Fuel Tech by 14.7% during the 1st quarter. Marquette Asset Management LLC now owns 141,189 shares of the industrial products company’s stock worth $171,000 after buying an additional 18,133 shares during the period. 20.94% of the stock is currently owned by institutional investors and hedge funds.

About Fuel Tech

(Get 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.

Recommended Stories