Fuel Tech (NASDAQ:FTEK) Earns Hold Rating from Analysts at StockNews.com

StockNews.com initiated 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.

Separately, HC Wainwright reissued a buy rating and issued a $4.00 price target on shares of Fuel Tech in a research report on Thursday, May 9th.

Fuel Tech Stock Performance

Shares of FTEK opened at $1.00 on Friday. The firm has a market cap of $30.71 million, a PE ratio of -33.33 and a beta of 4.16. The firm’s 50 day moving average price is $1.03 and its 200 day moving average price is $1.11. Fuel Tech has a twelve month low of $0.91 and a twelve month high of $1.34.

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 net margin of 0.84% and a negative return on equity of 0.50%. The company had revenue of $7.04 million for the quarter, compared to analyst estimates of $5.81 million. During the same quarter last year, the firm posted ($0.03) earnings per share. 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 hedge funds and other institutional investors have recently modified their holdings of FTEK. Essex Investment Management Co. LLC grew its stake 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 worth $485,000 after acquiring an additional 119,763 shares during the last quarter. Renaissance Technologies LLC boosted its stake 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 worth $936,000 after buying an additional 44,512 shares in the last quarter. Finally, Marquette Asset Management LLC boosted its stake 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 worth $171,000 after buying an additional 18,133 shares in the last quarter. Institutional investors and hedge funds 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.