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

StockNews.com assumed coverage on shares of Fuel Tech (NASDAQ:FTEK) in a report published on Saturday morning. The firm issued a hold rating on the industrial products company’s stock.

Fuel Tech Price Performance

Shares of Fuel Tech stock opened at $1.02 on Friday. The stock has a market cap of $31.32 million, a price-to-earnings ratio of -102.00 and a beta of 4.13. The firm’s 50-day moving average is $1.02 and its two-hundred day moving average is $1.07. Fuel Tech has a 1 year low of $0.91 and a 1 year high of $1.34.

Fuel Tech (NASDAQ:FTEK) last announced its quarterly 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 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 last year, the business posted ($0.03) EPS. On average, equities analysts expect that Fuel Tech will post -0.02 earnings per share for the current year.

Hedge Funds Weigh In On Fuel Tech

A number of large investors have recently added to or reduced their stakes in FTEK. Renaissance Technologies LLC grew its position in shares of 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 buying an additional 44,512 shares during the last quarter. Marquette Asset Management LLC grew its stake 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 worth $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 1st quarter. Essex Investment Management Co. LLC now owns 401,159 shares of the industrial products company’s stock valued at $485,000 after buying an additional 119,763 shares in the last quarter. 20.94% of the stock is currently owned by 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.