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

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

Fuel Tech Trading Up 2.9 %

Shares of NASDAQ:FTEK opened at $1.05 on Friday. The business’s 50 day moving average is $1.02 and its 200-day moving average is $1.10. 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 $31.90 million, a PE ratio of -34.50 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) EPS for the quarter, beating the consensus estimate of ($0.02) by $0.01. The business had revenue of $7.04 million for 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 period in the prior year, the firm earned ($0.03) earnings per share. On average, sell-side analysts predict that Fuel Tech will post -0.02 EPS for the current year.

Hedge Funds Weigh In On Fuel Tech

Several institutional investors have recently modified their holdings of the business. Essex Investment Management Co. LLC lifted its holdings 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 valued at $485,000 after purchasing an additional 119,763 shares in the last quarter. Renaissance Technologies LLC raised its holdings 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 acquiring an additional 44,512 shares in the last quarter. Finally, Marquette Asset Management LLC boosted its position in 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 last quarter. Institutional investors own 20.94% of the company’s stock.

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.