Fuel Tech (NASDAQ:FTEK) Posts Earnings Results, Misses Estimates By $0.02 EPS

Fuel Tech (NASDAQ:FTEK) released its quarterly earnings data on Tuesday. The industrial products company reported ($0.04) EPS for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.02), FiscalAI reports. Fuel Tech had a negative return on equity of 7.34% and a negative net margin of 11.15%.The business had revenue of $6.49 million for the quarter, compared to the consensus estimate of $6.58 million.

Fuel Tech Trading Up 2.0%

FTEK stock traded up $0.03 during trading on Tuesday, hitting $1.53. 212,745 shares of the stock traded hands, compared to its average volume of 96,586. The stock has a market cap of $47.69 million, a price-to-earnings ratio of -17.00 and a beta of 1.29. Fuel Tech has a one year low of $1.17 and a one year high of $3.65. The company has a 50 day simple moving average of $1.60 and a 200 day simple moving average of $1.45.

Analyst Upgrades and Downgrades

FTEK has been the topic of a number of analyst reports. Weiss Ratings raised shares of Fuel Tech from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Monday, June 15th. Zacks Research upgraded shares of Fuel Tech from a “strong sell” rating to a “hold” rating in a research note on Monday, July 6th. Finally, Wall Street Zen downgraded Fuel Tech from a “hold” rating to a “sell” rating in a report on Saturday, May 9th. One investment analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Reduce”.

Institutional Trading of Fuel Tech

Several hedge funds have recently modified their holdings of FTEK. Advisory Services Network LLC grew its holdings in shares of Fuel Tech by 44.2% during the third quarter. Advisory Services Network LLC now owns 21,627 shares of the industrial products company’s stock worth $65,000 after purchasing an additional 6,627 shares during the last quarter. State Street Corp increased its stake in shares of Fuel Tech by 7.1% in the fourth quarter. State Street Corp now owns 121,846 shares of the industrial products company’s stock valued at $190,000 after buying an additional 8,100 shares in the last quarter. Group One Trading LLC raised its holdings in shares of Fuel Tech by 26.1% in the fourth quarter. Group One Trading LLC now owns 42,509 shares of the industrial products company’s stock valued at $66,000 after buying an additional 8,803 shares during the last quarter. Prelude Capital Management LLC bought a new position in shares of Fuel Tech in the third quarter valued at about $40,000. Finally, Virtu Financial LLC acquired a new position in Fuel Tech during the 4th quarter worth about $27,000. Institutional investors and hedge funds own 20.94% of the company’s stock.

About Fuel Tech

Fuel Tech, Inc (NASDAQ: FTEK) is a specialty technology and engineering company focused on developing and supplying clean air solutions for the power generation and industrial markets. The company designs, manufactures and markets proprietary chemical reagents and process control systems that help customers reduce emissions of nitrogen oxides (NOx), mercury and other air pollutants. Its technology platform combines advanced process modeling, plant optimization software and field testing services to help utilities and industrial facilities comply with environmental regulations and improve operational efficiency.

Fuel Tech’s core product lines include selective catalytic reduction (SCR) optimization systems, activated carbon injection solutions for mercury capture, and sorbent enhancement additives for flue gas desulfurization processes.