Fuel Tech (NASDAQ:FTEK) Announces Quarterly Earnings Results, Hits Estimates

Fuel Tech (NASDAQ:FTEK) posted its quarterly earnings results on Tuesday. The industrial products company reported $0.01 earnings per share for the quarter, meeting the consensus estimate of $0.01, Zacks reports. Fuel Tech had a negative net margin of 12.89% and a negative return on equity of 7.70%. The firm had revenue of $7.49 million during the quarter, compared to the consensus estimate of $9.39 million.

Fuel Tech Price Performance

Shares of Fuel Tech stock traded down $0.08 on Thursday, reaching $2.12. 252,044 shares of the company were exchanged, compared to its average volume of 265,532. The stock’s 50 day moving average price is $2.98 and its 200-day moving average price is $2.41. The company has a market cap of $65.88 million, a P/E ratio of -21.25 and a beta of 4.86. Fuel Tech has a 1-year low of $0.87 and a 1-year high of $3.65.

Institutional Trading of Fuel Tech

An institutional investor recently raised its position in Fuel Tech stock. Geode Capital Management LLC raised its holdings in shares of Fuel Tech, Inc. (NASDAQ:FTEK) by 3.6% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 517,658 shares of the industrial products company’s stock after purchasing an additional 17,766 shares during the quarter. Geode Capital Management LLC owned 1.67% of Fuel Tech worth $1,305,000 at the end of the most recent quarter. 20.94% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Separately, Weiss Ratings reiterated a “sell (d-)” rating on shares of Fuel Tech in a research note on Friday, October 31st. One analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $4.00.

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.