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

StockNews.com started coverage on shares of Fuel Tech (NASDAQ:FTEK) in a research report sent to investors on Monday. The firm issued a hold rating on the industrial products company’s stock.

Fuel Tech Price Performance

FTEK stock opened at $1.04 on Monday. The company’s 50 day simple moving average is $1.01 and its 200-day simple moving average is $1.10. Fuel Tech has a 12 month low of $0.91 and a 12 month high of $1.34. The firm has a market capitalization of $31.60 million, a PE ratio of -34.67 and a beta of 4.13.

Fuel Tech (NASDAQ:FTEK) last released its quarterly earnings results on Tuesday, August 6th. The industrial products company reported ($0.01) earnings per share for the quarter, topping the consensus estimate of ($0.02) by $0.01. Fuel Tech had a negative return on equity of 0.50% and a negative net margin of 0.84%. The company had revenue of $7.04 million during the quarter, compared to the consensus estimate of $5.81 million. During the same quarter last year, the business posted ($0.03) earnings per share. As a group, sell-side analysts anticipate that Fuel Tech will post -0.02 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Marquette Asset Management LLC boosted its holdings 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 worth $171,000 after purchasing an additional 18,133 shares during the last quarter. Renaissance Technologies LLC boosted its stake in Fuel Tech by 5.4% in 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 last quarter. Finally, Essex Investment Management Co. LLC grew 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 valued at $485,000 after buying an additional 119,763 shares during the period. 20.94% of the stock is currently owned by hedge funds and other institutional investors.

About Fuel Tech

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.