Fuel Tech (NASDAQ:FTEK) Receives New Coverage from Analysts at StockNews.com

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

Fuel Tech Stock Down 1.0 %

FTEK opened at $1.03 on Monday. The stock’s 50 day moving average price is $1.01 and its two-hundred day moving average price is $1.10. The firm has a market capitalization of $31.30 million, a P/E ratio of -34.33 and a beta of 4.13. Fuel Tech has a 12-month low of $0.91 and a 12-month high of $1.34.

Fuel Tech (NASDAQ:FTEK) last announced its earnings results on Tuesday, August 6th. The industrial products company reported ($0.01) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.02) by $0.01. Fuel Tech had a negative net margin of 0.84% and a negative return on equity of 0.50%. The business had revenue of $7.04 million for the quarter, compared to analyst estimates of $5.81 million. During the same quarter in the previous year, the firm posted ($0.03) earnings per share. As a group, analysts anticipate that Fuel Tech will post -0.02 earnings per share for the current year.

Institutional Investors Weigh In On Fuel Tech

A number of institutional investors have recently added to or reduced their stakes in FTEK. Marquette Asset Management LLC raised its holdings in Fuel Tech by 14.7% in the 1st quarter. Marquette Asset Management LLC now owns 141,189 shares of the industrial products company’s stock valued at $171,000 after acquiring an additional 18,133 shares in the last quarter. Essex Investment Management Co. LLC increased its position in shares of Fuel Tech by 42.6% during the first 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 during the period. Finally, Renaissance Technologies LLC raised 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 valued at $936,000 after purchasing 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.