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

Investment analysts at StockNews.com began coverage on shares of Fuel Tech (NASDAQ:FTEK) in a report released on Tuesday. The firm set a “hold” rating on the industrial products company’s stock.

Fuel Tech Price Performance

Shares of FTEK stock opened at $1.05 on Tuesday. The company’s fifty day simple moving average is $1.01 and its two-hundred day simple moving average is $1.10. Fuel Tech has a 1 year low of $0.91 and a 1 year high of $1.34. The stock has a market capitalization of $31.90 million, a price-to-earnings ratio of -35.00 and a beta of 4.13.

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, beating analysts’ consensus estimates of ($0.02) by $0.01. The business had revenue of $7.04 million for the quarter, compared to analysts’ expectations of $5.81 million. Fuel Tech had a negative net margin of 0.84% and a negative return on equity of 0.50%. During the same quarter in the previous year, the firm posted ($0.03) EPS. Equities research analysts anticipate that Fuel Tech will post -0.02 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Marquette Asset Management LLC grew its position in shares of 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 purchasing an additional 18,133 shares in 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 purchasing an additional 119,763 shares in the last quarter. Finally, Renaissance Technologies LLC grew its position in shares of Fuel Tech by 5.4% during the 2nd quarter. Renaissance Technologies LLC now owns 874,618 shares of the industrial products company’s stock valued at $936,000 after purchasing an additional 44,512 shares in the last quarter. 20.94% of the stock is currently owned by hedge funds and other institutional investors.

Fuel Tech Company Profile

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.