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

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

Fuel Tech Trading Up 2.0 %

Shares of FTEK opened at $1.04 on Friday. The company has a market capitalization of $31.60 million, a price-to-earnings ratio of -34.67 and a beta of 4.13. The stock has a 50 day moving average of $1.01 and a 200 day moving average of $1.07. Fuel Tech has a 12 month low of $0.91 and a 12 month high of $1.34.

Fuel Tech (NASDAQ:FTEK) last issued 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. The company had revenue of $7.04 million during the quarter, compared to the consensus estimate of $5.81 million. Fuel Tech had a negative return on equity of 0.50% and a negative net margin of 0.84%. During the same period last year, the business posted ($0.03) earnings per share. As a group, equities research analysts predict that Fuel Tech will post -0.02 earnings per share for the current year.

Hedge Funds Weigh In On Fuel Tech

Several institutional investors and hedge funds have recently bought and sold shares of the company. Marquette Asset Management LLC grew its holdings in Fuel Tech by 14.7% during 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. Renaissance Technologies LLC grew its holdings in Fuel Tech by 5.4% during 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. Finally, Essex Investment Management Co. LLC grew its holdings in 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. 20.94% of the stock is owned by institutional investors.

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.