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

Investment analysts at StockNews.com assumed coverage on shares of Fuel Tech (NASDAQ:FTEK) in a research note issued on Saturday. The brokerage set a “hold” rating on the industrial products company’s stock.

Fuel Tech Trading Down 0.3 %

FTEK stock opened at $0.98 on Friday. Fuel Tech has a 1-year low of $0.91 and a 1-year high of $1.34. The business’s 50 day moving average is $1.02 and its 200-day moving average is $1.11. The firm has a market cap of $29.78 million, a P/E ratio of -32.67 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 for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.01. The firm had revenue of $7.04 million for the quarter, compared to analysts’ expectations of $5.81 million. Fuel Tech had a negative return on equity of 0.50% and a negative net margin of 0.84%. During the same period in the prior year, the business posted ($0.03) earnings per share. Sell-side analysts forecast that Fuel Tech will post -0.02 EPS for the current year.

Institutional Trading of Fuel Tech

Several large investors have recently added to or reduced their stakes in the company. Essex Investment Management Co. LLC boosted its holdings in shares of 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 acquiring an additional 119,763 shares in the last quarter. Renaissance Technologies LLC raised its position in Fuel Tech by 5.4% in the 2nd quarter. Renaissance Technologies LLC now owns 874,618 shares of the industrial products company’s stock valued at $936,000 after purchasing an additional 44,512 shares during the last quarter. Finally, Marquette Asset Management LLC boosted its stake in Fuel Tech by 14.7% in the first quarter. Marquette Asset Management LLC now owns 141,189 shares of the industrial products company’s stock worth $171,000 after purchasing an additional 18,133 shares in the last quarter. 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.