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

StockNews.com began coverage on shares of Fuel Tech (NASDAQ:FTEK) in a research note issued to investors on Tuesday morning. The brokerage issued a hold rating on the industrial products company’s stock.

Fuel Tech Price Performance

Shares of NASDAQ FTEK opened at $1.01 on Tuesday. The stock has a market capitalization of $30.69 million, a PE ratio of -33.32 and a beta of 4.13. Fuel Tech has a one year low of $0.91 and a one year high of $1.34. The business’s fifty day moving average price is $1.01 and its 200-day moving average price is $1.09.

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 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 return on equity of 0.50% and a negative net margin of 0.84%. During the same period in the previous year, the business posted ($0.03) EPS. As a group, equities analysts expect that Fuel Tech will post -0.02 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Essex Investment Management Co. LLC lifted its position 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 worth $485,000 after acquiring an additional 119,763 shares in the last quarter. Marquette Asset Management LLC raised its stake 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 during the period. Finally, Renaissance Technologies LLC raised its stake 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 during the period. 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.