Fuel Tech (NASDAQ:FTEK) Posts Quarterly Earnings Results, Misses Expectations By $0.02 EPS

Fuel Tech (NASDAQ:FTEK) posted its quarterly earnings results on Tuesday. The industrial products company reported ($0.04) EPS for the quarter, missing the consensus estimate of ($0.02) by ($0.02), FiscalAI reports. The business had revenue of $6.49 million during the quarter, compared to the consensus estimate of $6.58 million. Fuel Tech had a negative net margin of 11.15% and a negative return on equity of 7.34%.

Fuel Tech Stock Performance

Fuel Tech stock traded down $0.04 during trading on Wednesday, reaching $1.50. The company had a trading volume of 123,943 shares, compared to its average volume of 250,992. The firm has a market capitalization of $46.60 million, a PE ratio of -16.61 and a beta of 1.29. Fuel Tech has a 1-year low of $1.17 and a 1-year high of $3.65. The firm’s 50-day simple moving average is $1.60 and its 200 day simple moving average is $1.45.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. Weiss Ratings raised Fuel Tech from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Monday, June 15th. Wall Street Zen lowered shares of Fuel Tech from a “hold” rating to a “sell” rating in a report on Saturday, May 9th. Finally, Zacks Research upgraded Fuel Tech from a “strong sell” rating to a “hold” rating in a research note on Monday, July 6th. One equities research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Fuel Tech currently has an average rating of “Reduce”.

Hedge Funds Weigh In On Fuel Tech

Hedge funds and other institutional investors have recently made changes to their positions in the company. Virtu Financial LLC purchased a new stake in shares of Fuel Tech during the fourth quarter worth $27,000. Prelude Capital Management LLC purchased a new stake in shares of Fuel Tech in the 3rd quarter valued at approximately $40,000. NewEdge Advisors LLC lifted its holdings in Fuel Tech by 35,206.0% in the third quarter. NewEdge Advisors LLC now owns 17,653 shares of the industrial products company’s stock valued at $53,000 after acquiring an additional 17,603 shares during the last quarter. Marshall Wace LLP acquired a new position in shares of Fuel Tech in the 2nd quarter valued at $63,000. Finally, Advisory Services Network LLC lifted its position in Fuel Tech by 44.2% in the third quarter. Advisory Services Network LLC now owns 21,627 shares of the industrial products company’s stock valued at $65,000 after buying an additional 6,627 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 (NASDAQ: FTEK) is a specialty technology and engineering company focused on developing and supplying clean air solutions for the power generation and industrial markets. The company designs, manufactures and markets proprietary chemical reagents and process control systems that help customers reduce emissions of nitrogen oxides (NOx), mercury and other air pollutants. Its technology platform combines advanced process modeling, plant optimization software and field testing services to help utilities and industrial facilities comply with environmental regulations and improve operational efficiency.

Fuel Tech’s core product lines include selective catalytic reduction (SCR) optimization systems, activated carbon injection solutions for mercury capture, and sorbent enhancement additives for flue gas desulfurization processes.