Fuel Tech (NASDAQ:FTEK) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Fuel Tech (NASDAQ:FTEK) from a sell rating to a hold rating in a research report released on Saturday,Wall Street Zen reports.

Other analysts have also recently issued reports about the company. Zacks Research cut Fuel Tech from a “hold” rating to a “strong sell” rating in a research report on Friday, August 7th. Weiss Ratings upgraded shares of Fuel Tech from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Monday, June 15th. Two analysts have rated the stock with a Sell rating, According to MarketBeat.com, the company currently has an average rating of “Sell”.

Fuel Tech Stock Performance

Shares of FTEK opened at $1.55 on Friday. The company has a market capitalization of $48.39 million, a P/E ratio of -14.09 and a beta of 1.30. The stock has a 50-day moving average price of $1.54 and a 200 day moving average price of $1.45. Fuel Tech has a one year low of $1.17 and a one year high of $3.65.

Fuel Tech (NASDAQ:FTEK) last announced its quarterly earnings data on Tuesday, August 4th. The industrial products company reported ($0.04) earnings per share for the quarter, missing the consensus estimate of ($0.02) by ($0.02). The company had revenue of $6.49 million for the quarter, compared to analyst estimates of $6.58 million. Fuel Tech had a negative return on equity of 8.88% and a negative net margin of 12.75%. As a group, equities research analysts forecast that Fuel Tech will post -0.13 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Fuel Tech

Several institutional investors and hedge funds have recently added to or reduced their stakes in FTEK. Prelude Capital Management LLC acquired a new position in Fuel Tech during the third quarter valued at $40,000. Group One Trading LLC acquired a new stake in shares of Fuel Tech in the second quarter worth about $31,000. Virtu Financial LLC acquired a new stake in Fuel Tech in the 4th quarter worth approximately $27,000. NewEdge Advisors LLC lifted its stake in shares of 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 worth $53,000 after buying an additional 17,603 shares during the last quarter. Finally, Advisory Services Network LLC boosted its holdings in Fuel Tech by 44.2% during the third quarter. Advisory Services Network LLC now owns 21,627 shares of the industrial products company’s stock valued at $65,000 after acquiring an additional 6,627 shares during the period. 20.94% of the stock is currently owned by hedge funds and other institutional investors.

Fuel Tech Company Profile

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.