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

Equities researchers at StockNews.com began coverage on shares of Fuel Tech (NASDAQ:FTEK) in a research report issued on Saturday. The firm set a “hold” rating on the industrial products company’s stock.

Fuel Tech Price Performance

NASDAQ:FTEK opened at $1.02 on Friday. Fuel Tech has a 1-year low of $0.91 and a 1-year high of $1.34. The company has a 50 day moving average price of $1.02 and a 200-day moving average price of $1.07. The firm has a market cap of $31.32 million, a price-to-earnings ratio of -102.00 and a beta of 4.13.

Fuel Tech (NASDAQ:FTEK) last posted 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. Fuel Tech had a negative return on equity of 0.50% and a negative net margin of 0.84%. The firm had revenue of $7.04 million for the quarter, compared to analysts’ expectations of $5.81 million. During the same period last year, the firm earned ($0.03) EPS. On average, sell-side analysts anticipate that Fuel Tech will post -0.02 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Fuel Tech

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Renaissance Technologies LLC grew its position 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 during the period. Essex Investment Management Co. LLC lifted its stake 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 valued at $485,000 after buying an additional 119,763 shares in the last quarter. Finally, Marquette Asset Management LLC boosted 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 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.