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

StockNews.com started coverage on shares of Fuel Tech (NASDAQ:FTEK) in a note issued to investors on Thursday. The firm set a “hold” rating on the industrial products company’s stock.

Fuel Tech Stock Performance

NASDAQ FTEK opened at $1.02 on Thursday. Fuel Tech has a 1 year low of $0.91 and a 1 year high of $1.34. The business’s fifty day moving average is $1.01 and its two-hundred day moving average is $1.08. The stock has a market capitalization of $30.84 million, a P/E ratio of -33.83 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) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.02) by $0.01. Fuel Tech had a negative return on equity of 0.50% and a negative net margin of 0.84%. The company had revenue of $7.04 million for the quarter, compared to analyst estimates of $5.81 million. During the same period in the previous year, the firm earned ($0.03) earnings per share. On average, research analysts forecast that Fuel Tech will post -0.02 earnings per share for the current year.

Institutional Trading of Fuel Tech

A number of hedge funds have recently modified their holdings of the business. Renaissance Technologies LLC raised its holdings in shares of Fuel Tech by 5.4% during the second 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. Essex Investment Management Co. LLC lifted its holdings in 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 purchasing an additional 119,763 shares during the last quarter. Finally, Marquette Asset Management LLC lifted its stake 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 worth $171,000 after buying an additional 18,133 shares during the last quarter. Hedge funds and other 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.