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

Investment analysts at StockNews.com assumed coverage on shares of Fuel Tech (NASDAQ:FTEK) in a report released on Wednesday. The firm set a “hold” rating on the industrial products company’s stock.

Fuel Tech Stock Performance

NASDAQ:FTEK opened at $1.01 on Wednesday. The stock’s 50-day simple moving average is $1.01 and its 200 day simple moving average is $1.09. The company has a market cap of $30.69 million, a P/E ratio of -33.67 and a beta of 4.13. Fuel Tech has a 52-week low of $0.91 and a 52-week 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 (EPS) for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $5.81 million. During the same quarter in the previous year, the business earned ($0.03) earnings per share. As a group, equities analysts predict that Fuel Tech will post -0.02 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Fuel Tech

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Marquette Asset Management LLC grew its holdings in Fuel Tech by 14.7% during the first quarter. Marquette Asset Management LLC now owns 141,189 shares of the industrial products company’s stock worth $171,000 after purchasing an additional 18,133 shares during the period. Renaissance Technologies LLC boosted its holdings in shares of Fuel Tech by 5.4% during the second 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 during the period. Finally, Essex Investment Management Co. LLC boosted 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 worth $485,000 after acquiring an additional 119,763 shares during the period. Institutional investors 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.