StockNews.com Begins Coverage on Fuel Tech (NASDAQ:FTEK)

by · The Markets Daily

StockNews.com assumed coverage on shares of Fuel Tech (NASDAQ:FTEK – Free Report) in a research note published on Tuesday morning. The firm issued a hold rating on the industrial products company’s stock.

Fuel Tech Stock Down 1.0 %

Shares of Fuel Tech stock opened at $1.00 on Tuesday. Fuel Tech has a 12-month low of $0.91 and a 12-month high of $1.34. The firm has a market capitalization of $30.39 million, a PE ratio of -33.50 and a beta of 4.13. The stock’s fifty day moving average is $1.01 and its 200-day moving average is $1.09.

Fuel Tech (NASDAQ:FTEK – Get Free Report) last posted its quarterly earnings data on Tuesday, August 6th. The industrial products company reported ($0.01) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.02) by $0.01. Fuel Tech had a negative return on equity of 0.50% and a negative net margin of 0.84%. The firm had revenue of $7.04 million for the quarter, compared to the consensus estimate of $5.81 million. During the same quarter in the previous year, the company earned ($0.03) EPS. Analysts expect that Fuel Tech will post -0.02 EPS for the current year.

Hedge Funds Weigh In On Fuel Tech

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Essex Investment Management Co. LLC lifted its holdings 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 valued at $485,000 after purchasing an additional 119,763 shares in the last quarter. Renaissance Technologies LLC lifted its stake in Fuel Tech by 5.4% in the 2nd quarter. Renaissance Technologies LLC now owns 874,618 shares of the industrial products company’s stock worth $936,000 after acquiring an additional 44,512 shares in the last quarter. Finally, Marquette Asset Management LLC lifted its stake in Fuel Tech by 14.7% in the 1st quarter. Marquette Asset Management LLC now owns 141,189 shares of the industrial products company’s stock worth $171,000 after acquiring 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

(Get Free Report)

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.

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