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

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

Fuel Tech Trading Up 6.0 %

Shares of FTEK stock opened at $1.05 on Wednesday. Fuel Tech has a 12-month low of $0.91 and a 12-month high of $1.34. The business’s fifty day simple moving average is $1.01 and its 200-day simple moving average is $1.09. The company has a market cap of $31.90 million, a PE ratio of -35.00 and a beta of 4.13.

Fuel Tech (NASDAQ:FTEK) last released its quarterly 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 company had revenue of $7.04 million during the quarter, compared to analysts’ expectations of $5.81 million. During the same period last year, the business posted ($0.03) earnings per share. On average, equities analysts forecast that Fuel Tech will post -0.02 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of FTEK. Renaissance Technologies LLC lifted its stake 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 buying an additional 44,512 shares during the period. Essex Investment Management Co. LLC lifted its position in Fuel Tech by 42.6% during 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 during the period. Finally, Marquette Asset Management LLC increased 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 purchasing an additional 18,133 shares during the period. Institutional investors and hedge funds 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.