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

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

Fuel Tech Trading Down 1.5 %

FTEK opened at $1.00 on Friday. The company has a market cap of $30.71 million, a price-to-earnings ratio of -33.33 and a beta of 4.13. The stock has a fifty day simple moving average of $1.02 and a two-hundred day simple moving average of $1.10. Fuel Tech has a 12-month low of $0.91 and a 12-month high of $1.34.

Fuel Tech (NASDAQ:FTEK) last released its earnings results on Tuesday, August 6th. The industrial products company reported ($0.01) earnings per share for the quarter, topping 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 firm had revenue of $7.04 million for the quarter, compared to the consensus estimate of $5.81 million. During the same period in the prior year, the firm earned ($0.03) EPS. On average, analysts predict that Fuel Tech will post -0.02 EPS for the current year.

Institutional Trading of Fuel Tech

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Marquette Asset Management LLC boosted its holdings in Fuel Tech by 14.7% in the first 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. Essex Investment Management Co. LLC increased its holdings in shares of 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 valued at $485,000 after acquiring an additional 119,763 shares in the last quarter. Finally, Renaissance Technologies LLC raised 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 purchasing an additional 44,512 shares during the last quarter. Hedge funds and other institutional investors own 20.94% of the company’s stock.

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.