Fuel Tech (NASDAQ:FTEK) Now Covered by Analysts at StockNews.com

StockNews.com assumed coverage on shares of Fuel Tech (NASDAQ:FTEK) in a research note issued to investors on Wednesday morning. The brokerage issued a hold rating on the industrial products company’s stock.

Fuel Tech Stock Performance

Shares of NASDAQ FTEK opened at $1.02 on Wednesday. The firm has a fifty day moving average of $1.01 and a 200 day moving average of $1.09. The firm has a market cap of $30.99 million, a PE ratio of -34.00 and a beta of 4.13. Fuel Tech has a one year low of $0.91 and a one year 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 analysts’ consensus estimates 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) earnings per share. On average, equities analysts predict that Fuel Tech will post -0.02 EPS for the current fiscal year.

Institutional Trading of Fuel Tech

A number of institutional investors have recently made changes to their positions in the company. Essex Investment Management Co. LLC lifted 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 purchasing an additional 119,763 shares in the last quarter. Marquette Asset Management LLC grew 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 buying an additional 18,133 shares in the last quarter. Finally, Renaissance Technologies LLC lifted its stake in shares of Fuel Tech by 5.4% in 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 in the last quarter. 20.94% of the stock is owned by institutional investors and hedge funds.

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.