Fuel Tech (NASDAQ:FTEK) Coverage Initiated at StockNews.com

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

Fuel Tech Trading Up 2.0 %

Shares of NASDAQ FTEK opened at $1.02 on Friday. The stock has a market cap of $30.99 million, a P/E ratio of -34.00 and a beta of 4.13. The business’s fifty day simple moving average is $1.02 and its 200-day simple moving average is $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 announced its quarterly earnings data on Tuesday, August 6th. The industrial products company reported ($0.01) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.02) by $0.01. Fuel Tech had a negative return on equity of 0.50% and a negative net margin of 0.84%. The business had revenue of $7.04 million during the quarter, compared to analysts’ expectations of $5.81 million. During the same quarter last year, the business posted ($0.03) EPS. On average, equities analysts forecast that Fuel Tech will post -0.02 EPS for the current fiscal year.

Hedge Funds Weigh In On Fuel Tech

A number of institutional investors and hedge funds have recently modified their holdings of the company. Marquette Asset Management LLC lifted its holdings 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. Essex Investment Management Co. LLC grew its position in shares of Fuel Tech by 42.6% in 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 during the last quarter. Finally, Renaissance Technologies LLC raised its stake in Fuel Tech by 5.4% during the 2nd quarter. Renaissance Technologies LLC now owns 874,618 shares of the industrial products company’s stock worth $936,000 after acquiring an additional 44,512 shares in the last quarter. Institutional investors and hedge funds 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.