Zacks: Fuel Tech Inc (NASDAQ:FTEK) Given Consensus Recommendation of “Strong Buy” by Brokerages

Shares of Fuel Tech Inc (NASDAQ:FTEK) have earned an average broker rating score of 1.00 (Strong Buy) from the one brokers that cover the company, Zacks Investment Research reports. One research analyst has rated the stock with a strong buy rating.

Brokerages have set a twelve-month consensus price target of $2.00 for the company and are anticipating that the company will post ($0.02) EPS for the current quarter, according to Zacks. Zacks has also given Fuel Tech an industry rank of 75 out of 256 based on the ratings given to related companies.

FTEK has been the subject of several analyst reports. Zacks Investment Research raised HANNOVER RUECK/S from a “sell” rating to a “hold” rating in a research note on Friday, May 17th. ValuEngine cut Zosano Pharma from a “buy” rating to a “hold” rating in a research note on Wednesday, May 1st.

FTEK opened at $1.23 on Thursday. Fuel Tech has a 12 month low of $0.96 and a 12 month high of $3.06. The firm has a market cap of $29.75 million, a PE ratio of 123.00 and a beta of 1.18. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.70 and a quick ratio of 2.64. The business’s fifty day moving average is $1.42.

An institutional investor recently raised its position in Fuel Tech stock. Grace & White Inc. NY grew its holdings in shares of Fuel Tech Inc (NASDAQ:FTEK) by 4.1% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,486,799 shares of the industrial products company’s stock after buying an additional 59,142 shares during the period. Grace & White Inc. NY owned 6.15% of Fuel Tech worth $2,483,000 as of its most recent filing with the Securities and Exchange Commission (SEC). 24.22% of the stock is owned by 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. It 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 by low and ultra-low NOx burners; over-fire air systems; NOxOUT and HERT selective non-catalytic reduction systems; advanced selective catalytic reduction systems; NOxOUT CASCADE and NOxOUT-SCR processes; ULTRA technology; ammonia injection grid and graduated straightening grid systems; and flue gas conditioning systems.

Read More: What is an investor looking for in an SEC filing?

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