Zacks Research Upgrades Fuel Tech (NASDAQ:FTEK) to “Hold”

Fuel Tech (NASDAQ:FTEK) was upgraded by stock analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a research note issued to investors on Monday, Zacks reports.

Other analysts also recently issued reports about the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of Fuel Tech in a report on Friday, September 11th. Wall Street Zen raised Fuel Tech from a “sell” rating to a “hold” rating in a research note on Saturday, September 5th. One analyst has rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Fuel Tech has a consensus rating of “Reduce”.

Fuel Tech Stock Performance

NASDAQ:FTEK opened at $1.67 on Monday. The firm’s fifty day moving average is $1.55 and its 200-day moving average is $1.51. Fuel Tech has a 52 week low of $1.17 and a 52 week high of $3.45. The firm has a market cap of $52.13 million, a P/E ratio of -15.18 and a beta of 1.28.

Fuel Tech (NASDAQ:FTEK) last announced its earnings results on Tuesday, August 4th. The industrial products company reported ($0.04) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.02). The firm had revenue of $6.49 million for the quarter, compared to the consensus estimate 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, sell-side analysts anticipate that Fuel Tech will post -0.13 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Group One Trading LLC acquired a new position in Fuel Tech during the 2nd quarter valued at about $31,000. BlackRock Inc. purchased a new stake in Fuel Tech in the 2nd quarter valued at $1,097,000. GSA Capital Partners LLP bought a new position in Fuel Tech during the 2nd quarter valued at $652,000. Marquette Asset Management LLC bought a new position in Fuel Tech during the 2nd quarter valued at $244,000. Finally, Renaissance Technologies LLC boosted its holdings in Fuel Tech by 22.6% during the 1st quarter. Renaissance Technologies LLC now owns 1,407,806 shares of the industrial products company’s stock worth $1,718,000 after acquiring an additional 259,811 shares during the last quarter. 20.94% of the stock is owned by institutional investors.

Fuel Tech Company Profile

Fuel Tech, Inc is an environmental technology company that develops and applies proprietary solutions for air pollution control, combustion optimization and water treatment. Its customers include electric utilities, industrial facilities and other operators seeking to improve environmental performance and operating efficiency.

The company’s offerings include technologies designed to reduce nitrogen oxide emissions, including selective non-catalytic reduction systems and related reagent-injection solutions.