Fuel Tech (NASDAQ:FTEK) Receives New Coverage from Analysts at StockNews.com

by · The Cerbat Gem

StockNews.com began coverage on shares of Fuel Tech (NASDAQ:FTEK – Free Report) in a report issued on Monday. The firm issued a hold rating on the industrial products company’s stock.

Fuel Tech Price Performance

NASDAQ FTEK opened at $1.04 on Monday. Fuel Tech has a 1-year low of $0.91 and a 1-year high of $1.34. The firm has a market capitalization of $31.60 million, a P/E ratio of -34.67 and a beta of 4.13. The business’s 50-day simple moving average is $1.01 and its 200-day simple moving average is $1.10.

Fuel Tech (NASDAQ:FTEK – Get Free Report) last announced its quarterly earnings results on Tuesday, August 6th. The industrial products company reported ($0.01) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.01. Fuel Tech had a negative net margin of 0.84% and a negative return on equity of 0.50%. The firm had revenue of $7.04 million for the quarter, compared to analysts’ expectations of $5.81 million. During the same period in the previous year, the company posted ($0.03) earnings per share. On average, equities research analysts expect that Fuel Tech will post -0.02 EPS for the current fiscal year.

Institutional Trading of Fuel Tech

Several large investors have recently added to or reduced their stakes in the stock. Essex Investment Management Co. LLC boosted its holdings in Fuel Tech by 42.6% in the 1st quarter. Essex Investment Management Co. LLC now owns 401,159 shares of the industrial products company’s stock worth $485,000 after acquiring an additional 119,763 shares during the period. Marquette Asset Management LLC raised its stake in shares of Fuel Tech by 14.7% during the first quarter. Marquette Asset Management LLC now owns 141,189 shares of the industrial products company’s stock valued at $171,000 after purchasing an additional 18,133 shares during the period. Finally, Renaissance Technologies LLC lifted its position in shares of Fuel Tech by 5.4% during the second quarter. Renaissance Technologies LLC now owns 874,618 shares of the industrial products company’s stock worth $936,000 after purchasing an additional 44,512 shares in the last quarter. 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.

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