Fuel Tech, Inc. (FTEK) Upgraded at ValuEngine
Fuel Tech, Inc. (NASDAQ:FTEK) was upgraded by stock analysts at ValuEngine from a “sell” rating to a “hold” rating in a report issued on Friday.
Fuel Tech (NASDAQ FTEK) opened at 1.0679 on Friday. The firm’s market capitalization is $25.77 million. The firm’s 50-day moving average is $0.87 and its 200 day moving average is $0.90. Fuel Tech has a 52-week low of $0.70 and a 52-week high of $1.51.
Fuel Tech (NASDAQ:FTEK) last issued its earnings results on Monday, August 14th. The industrial products company reported ($0.05) earnings per share (EPS) for the quarter. The firm had revenue of $9.74 million during the quarter. Fuel Tech had a negative net margin of 50.07% and a negative return on equity of 22.08%. Equities analysts anticipate that Fuel Tech will post ($0.42) EPS for the current year.
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In other news, CEO Vincent J. Arnone bought 32,000 shares of the company’s stock in a transaction dated Thursday, September 14th. The shares were bought at an average cost of $0.92 per share, with a total value of $29,440.00. Following the acquisition, the chief executive officer now owns 304,740 shares in the company, valued at $280,360.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider David S. Collins sold 79,998 shares of the company’s stock in a transaction dated Friday, September 1st. The shares were sold at an average price of $0.79, for a total transaction of $63,198.42. The disclosure for this sale can be found here. Over the last ninety days, insiders bought 70,000 shares of company stock worth $64,460. 13.90% of the stock is owned by insiders.
Several hedge funds have recently modified their holdings of the company. GRT Capital Partners L.L.C. raised its holdings in shares of Fuel Tech by 134.7% in the 2nd quarter. GRT Capital Partners L.L.C. now owns 243,417 shares of the industrial products company’s stock valued at $192,000 after purchasing an additional 139,701 shares during the period. Grace & White Inc. NY raised its holdings in shares of Fuel Tech by 2.6% in the 2nd quarter. Grace & White Inc. NY now owns 1,266,762 shares of the industrial products company’s stock valued at $1,001,000 after purchasing an additional 32,072 shares during the period. Renaissance Technologies LLC raised its holdings in shares of Fuel Tech by 8.0% in the 1st quarter. Renaissance Technologies LLC now owns 549,200 shares of the industrial products company’s stock valued at $560,000 after purchasing an additional 40,796 shares during the period. Finally, US Bancorp DE raised its holdings in shares of Fuel Tech by 65.3% in the 1st quarter. US Bancorp DE now owns 246,299 shares of the industrial products company’s stock valued at $251,000 after purchasing an additional 97,295 shares during the period. 23.73% of the stock is currently owned by institutional investors.
About Fuel Tech
Fuel Tech, Inc is a technology company. The Company is engaged in the development, commercialization and application of technologies for air pollution control, process optimization, combustion efficiency and engineering services. It operates through three segments: Air Pollution Control technology, FUEL CHEM technology and Fuel Conversion.
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