Fuel Tech (NASDAQ:FTEK) Earns Hold Rating from Analysts at StockNews.com

Posted by on Apr 12th, 2023

Stock analysts at StockNews.com assumed coverage on shares of Fuel Tech (NASDAQ:FTEK – Get Rating) in a research note issued on Wednesday. The firm set a “hold” rating on the industrial products company’s stock.

Separately, TheStreet cut Fuel Tech from a “c” rating to a “d” rating in a report on Wednesday, March 22nd.

Fuel Tech Trading Up 0.8 %

Shares of FTEK opened at $1.28 on Wednesday. The business’s fifty day simple moving average is $1.34 and its two-hundred day simple moving average is $1.35. Fuel Tech has a 12 month low of $1.02 and a 12 month high of $1.75. The company has a market cap of $38.78 million, a price-to-earnings ratio of -32.00 and a beta of 4.33.

Fuel Tech (NASDAQ:FTEK – Get Rating) last released its quarterly earnings results on Tuesday, March 7th. The industrial products company reported ($0.01) earnings per share for the quarter, beating the consensus estimate of ($0.03) by $0.02. The firm had revenue of $7.02 million for the quarter, compared to analysts’ expectations of $6.38 million. Fuel Tech had a negative return on equity of 3.22% and a negative net margin of 5.35%. As a group, research analysts forecast that Fuel Tech will post -0.07 EPS for the current year.

Institutional Trading of Fuel Tech

Several institutional investors and hedge funds have recently modified their holdings of FTEK. Jane Street Group LLC increased its holdings in Fuel Tech by 107.3% during the third quarter. Jane Street Group LLC now owns 22,731 shares of the industrial products company’s stock valued at $27,000 after buying an additional 11,765 shares during the period. Virtu Financial LLC grew its holdings in Fuel Tech by 150.2% in the fourth quarter. Virtu Financial LLC now owns 26,898 shares of the industrial products company’s stock worth $34,000 after purchasing an additional 16,147 shares during the last quarter. Legato Capital Management LLC purchased a new position in Fuel Tech in the fourth quarter worth $43,000. Susquehanna International Group LLP grew its holdings in Fuel Tech by 19.2% in the fourth quarter. Susquehanna International Group LLP now owns 70,877 shares of the industrial products company’s stock worth $90,000 after purchasing an additional 11,437 shares during the last quarter. Finally, Bank of America Corp DE grew its holdings in Fuel Tech by 33.2% in the first quarter. Bank of America Corp DE now owns 67,609 shares of the industrial products company’s stock worth $98,000 after purchasing an additional 16,851 shares during the last quarter. Institutional investors own 17.34% of the company’s stock.

About Fuel Tech

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Fuel Tech, Inc engages in the development, commercialization and application of proprietary technologies for air pollution control, process optimization, water treatment, and advanced engineering services. It operates through the following segments: Air Pollution Control, Fuel Chem Technologies, and Other.

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