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

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

Fuel Tech Stock Performance

Shares of NASDAQ FTEK opened at $1.01 on Friday. The company has a market capitalization of $30.69 million, a price-to-earnings ratio of -34.33 and a beta of 4.13. The company has a 50 day simple moving average of $1.02 and a two-hundred day simple moving average of $1.10. Fuel Tech has a fifty-two week low of $0.91 and a fifty-two week high of $1.34.

Fuel Tech (NASDAQ:FTEK) last released its earnings results on Tuesday, August 6th. The industrial products company reported ($0.01) EPS 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 business had revenue of $7.04 million for the quarter, compared to the consensus estimate of $5.81 million. During the same period in the previous year, the company posted ($0.03) earnings per share. On average, analysts forecast that Fuel Tech will post -0.02 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Fuel Tech

A number of institutional investors have recently made changes to their positions in FTEK. Marquette Asset Management LLC lifted 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 valued at $171,000 after purchasing an additional 18,133 shares in the last quarter. Essex Investment Management Co. LLC raised its position 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 buying an additional 119,763 shares during the last quarter. Finally, Renaissance Technologies LLC lifted its stake 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 valued at $936,000 after acquiring an additional 44,512 shares during the period. Hedge funds and other institutional investors 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.