Fuel Tech (NASDAQ:FTEK) Earns Hold Rating from Analysts at StockNews.com

StockNews.com started coverage on shares of Fuel Tech (NASDAQ:FTEK) in a research report released on Saturday. The brokerage issued a hold rating on the industrial products company’s stock.

Fuel Tech Stock Performance

Shares of FTEK stock opened at $1.02 on Friday. The firm’s 50 day moving average price is $1.02 and its two-hundred day moving average price is $1.07. The stock has a market cap of $31.32 million, a PE ratio of -102.00 and a beta of 4.13. Fuel Tech has a 52-week low of $0.91 and a 52-week high of $1.34.

Fuel Tech (NASDAQ:FTEK) last issued its quarterly earnings data 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. The business had revenue of $7.04 million during the quarter, compared to analysts’ expectations 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 quarter in the previous year, the company earned ($0.03) EPS. As a group, sell-side analysts predict that Fuel Tech will post -0.02 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of FTEK. Marquette Asset Management LLC raised its position in Fuel Tech by 14.7% in the first quarter. Marquette Asset Management LLC now owns 141,189 shares of the industrial products company’s stock worth $171,000 after acquiring an additional 18,133 shares during the period. 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 valued at $485,000 after acquiring an additional 119,763 shares in the last quarter. Finally, Renaissance Technologies LLC lifted its position in Fuel Tech by 5.4% during the second quarter. Renaissance Technologies LLC now owns 874,618 shares of the industrial products company’s stock valued at $936,000 after purchasing an additional 44,512 shares during the last quarter. Institutional investors and hedge funds own 20.94% of the company’s stock.

Fuel Tech Company Profile

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.