Fuel Tech (NASDAQ:FTEK) Coverage Initiated at StockNews.com

StockNews.com assumed coverage on shares of Fuel Tech (NASDAQ:FTEK) in a research report issued to clients and investors on Monday. The brokerage set 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 fifty-two week low of $0.91 and a fifty-two week high of $1.34. The business has a fifty day moving average price of $1.01 and a two-hundred day moving average price of $1.10. The stock 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 announced its quarterly earnings results on Tuesday, August 6th. The industrial products company reported ($0.01) earnings per share (EPS) for the quarter, beating the consensus estimate 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 company had revenue of $7.04 million for the quarter, compared to analyst estimates of $5.81 million. During the same period in the previous year, the firm posted ($0.03) EPS. As a group, sell-side analysts expect that Fuel Tech will post -0.02 earnings per share for the current year.

Institutional Investors Weigh In On Fuel Tech

A number of institutional investors have recently added to or reduced their stakes in FTEK. Essex Investment Management Co. LLC lifted its stake in shares of Fuel Tech by 42.6% in the first 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. Renaissance Technologies LLC raised its stake 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 worth $936,000 after buying an additional 44,512 shares during the last quarter. Finally, Marquette Asset Management LLC lifted its stake in shares of Fuel Tech by 14.7% in the 1st 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. 20.94% of the stock is owned by institutional investors.

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.