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

Investment analysts at StockNews.com assumed coverage on shares of Fuel Tech (NASDAQ:FTEK) in a research report issued to clients and investors on Saturday. The brokerage set a “hold” rating on the industrial products company’s stock.

Fuel Tech Stock Down 1.0 %

Shares of Fuel Tech stock opened at $1.02 on Friday. The stock’s 50-day simple moving average is $1.02 and its 200-day simple moving average is $1.07. Fuel Tech has a 52 week low of $0.91 and a 52 week high of $1.34. The company has a market capitalization of $31.32 million, a price-to-earnings ratio of -102.00 and a beta of 4.13.

Fuel Tech (NASDAQ:FTEK) last announced its quarterly earnings data on Tuesday, August 6th. The industrial products company reported ($0.01) EPS for the quarter, beating the consensus estimate 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 in the previous year, the business earned ($0.03) earnings per share. On average, equities analysts expect that Fuel Tech will post -0.02 earnings per share for the current year.

Institutional Investors Weigh In On Fuel Tech

A number of hedge funds have recently made changes to their positions in FTEK. Essex Investment Management Co. LLC lifted its position in shares of Fuel Tech by 42.6% in the first quarter. Essex Investment Management Co. LLC now owns 401,159 shares of the industrial products company’s stock worth $485,000 after buying an additional 119,763 shares in the last quarter. Renaissance Technologies LLC lifted its position in shares of Fuel Tech by 5.4% in the second 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 in the last quarter. Finally, Marquette Asset Management LLC lifted its position in shares of 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 buying an additional 18,133 shares in the last quarter. 20.94% of the stock is currently owned by hedge funds and other 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.