Fuel Tech (NASDAQ:FTEK) Now Covered by Analysts at StockNews.com

Equities researchers at StockNews.com started coverage on shares of Fuel Tech (NASDAQ:FTEK) in a research report issued to clients and investors on Monday. The firm set a “hold” rating on the industrial products company’s stock.

Fuel Tech Stock Up 4.9 %

Shares of Fuel Tech stock opened at $1.08 on Monday. The firm has a market cap of $32.82 million, a price-to-earnings ratio of -36.00 and a beta of 4.13. Fuel Tech has a 52-week low of $0.91 and a 52-week high of $1.34. The company’s 50-day simple moving average is $1.02 and its 200-day simple moving average is $1.10.

Fuel Tech (NASDAQ:FTEK) last issued its earnings results on Tuesday, August 6th. The industrial products company reported ($0.01) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.02) by $0.01. The business had revenue of $7.04 million during the quarter, compared to the consensus estimate of $5.81 million. Fuel Tech had a negative return on equity of 0.50% and a negative net margin of 0.84%. During the same period in the prior year, the business posted ($0.03) EPS. Equities research analysts anticipate that Fuel Tech will post -0.02 EPS for the current year.

Institutional Trading of Fuel Tech

A number of institutional investors have recently bought and sold shares of FTEK. Renaissance Technologies LLC raised its position in Fuel Tech by 5.4% during the second 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 during the last quarter. Marquette Asset Management LLC grew its holdings in Fuel Tech by 14.7% during the 1st quarter. Marquette Asset Management LLC now owns 141,189 shares of the industrial products company’s stock valued at $171,000 after buying an additional 18,133 shares during the last quarter. Finally, Essex Investment Management Co. LLC increased its position in Fuel Tech by 42.6% during the first quarter. Essex Investment Management Co. LLC now owns 401,159 shares of the industrial products company’s stock worth $485,000 after buying an additional 119,763 shares in the last quarter. 20.94% of the stock is currently owned by hedge funds and other institutional investors.

About Fuel Tech

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.