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

Investment analysts at StockNews.com started coverage on shares of Fuel Tech (NASDAQ:FTEK) in a note issued to investors on Thursday. The brokerage set a “hold” rating on the industrial products company’s stock.

Fuel Tech Trading Down 1.0 %

FTEK stock opened at $1.01 on Thursday. Fuel Tech has a 12 month low of $0.91 and a 12 month high of $1.34. The stock has a market capitalization of $30.69 million, a P/E ratio of -33.67 and a beta of 4.13. The firm has a 50-day moving average price of $1.01 and a 200-day moving average price of $1.08.

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

Hedge Funds Weigh In On Fuel Tech

Several hedge funds have recently modified their holdings of FTEK. Renaissance Technologies LLC increased its holdings 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 buying an additional 44,512 shares during the last quarter. Essex Investment Management Co. LLC grew its position in shares of Fuel Tech by 42.6% during the 1st quarter. Essex Investment Management Co. LLC now owns 401,159 shares of the industrial products company’s stock valued at $485,000 after acquiring an additional 119,763 shares during the period. Finally, Marquette Asset Management LLC raised its holdings in shares of 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 purchasing an additional 18,133 shares during the period. Institutional investors own 20.94% of the company’s stock.

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.