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

StockNews.com initiated coverage on shares of Fuel Tech (NASDAQ:FTEK) in a research note published on Tuesday. The firm issued a hold rating on the industrial products company’s stock.

Fuel Tech Stock Performance

NASDAQ FTEK opened at $1.02 on Tuesday. The firm has a market cap of $30.99 million, a PE ratio of -34.00 and a beta of 4.13. Fuel Tech has a one year low of $0.91 and a one year high of $1.34. The firm’s fifty day moving average is $1.01 and its two-hundred day moving average is $1.09.

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

Institutional Trading of Fuel Tech

Several hedge funds and other institutional investors have recently made changes to their positions in FTEK. Essex Investment Management Co. LLC boosted its holdings in shares of Fuel Tech by 42.6% in 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 acquiring an additional 119,763 shares in the last quarter. Renaissance Technologies LLC boosted its holdings 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 acquiring an additional 44,512 shares in the last quarter. Finally, Marquette Asset Management LLC boosted its holdings in shares of 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 valued at $171,000 after acquiring an additional 18,133 shares in the last quarter. Hedge funds and other institutional investors own 20.94% of the company’s stock.

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.