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

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

Fuel Tech Price Performance

FTEK opened at $1.01 on Friday. Fuel Tech has a one year low of $0.91 and a one year high of $1.34. The business has a 50 day simple moving average of $1.02 and a two-hundred day simple moving average of $1.10. The firm has a market capitalization of $30.69 million, a price-to-earnings ratio of -34.33 and a beta of 4.13.

Fuel Tech (NASDAQ:FTEK) last announced its earnings results on Tuesday, August 6th. The industrial products company reported ($0.01) EPS for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.01. The company had revenue of $7.04 million during the quarter, compared to the consensus estimate 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 quarter in the prior year, the company earned ($0.03) earnings per share. As a group, sell-side analysts expect that Fuel Tech will post -0.02 EPS for the current fiscal year.

Institutional Investors Weigh In On Fuel Tech

A number of large investors have recently modified their holdings of the stock. Marquette Asset Management LLC lifted its holdings 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 buying an additional 18,133 shares during the period. Essex Investment Management Co. LLC raised its position 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. Finally, Renaissance Technologies LLC raised its position in shares of Fuel Tech by 5.4% in the 2nd 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. 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.