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

Posted by on Jun 15th, 2023

Analysts at StockNews.com began coverage on shares of Fuel Tech (NASDAQ:FTEK – Get Rating) in a note issued to investors on Thursday. The brokerage set a “hold” rating on the industrial products company’s stock.

Separately, TheStreet upgraded Fuel Tech from a “d” rating to a “c-” rating in a report on Friday, June 2nd.

Fuel Tech Price Performance

NASDAQ:FTEK opened at $1.39 on Thursday. Fuel Tech has a 52 week low of $1.13 and a 52 week high of $1.83. The stock’s 50-day moving average price is $1.31 and its 200-day moving average price is $1.38. The stock has a market capitalization of $41.97 million, a PE ratio of -69.25 and a beta of 4.34.

Fuel Tech (NASDAQ:FTEK – Get Rating) last posted its quarterly earnings data on Tuesday, May 9th. The industrial products company reported ($0.01) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.02) by $0.01. Fuel Tech had a negative net margin of 2.99% and a negative return on equity of 1.92%. The company had revenue of $7.29 million during the quarter, compared to analysts’ expectations of $6.35 million. Sell-side analysts expect that Fuel Tech will post -0.05 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Fuel Tech

Several institutional investors and hedge funds have recently bought and sold shares of FTEK. Advisor Group Holdings Inc. raised its position in shares of Fuel Tech by 98.6% during the 1st quarter. Advisor Group Holdings Inc. now owns 27,186 shares of the industrial products company’s stock valued at $182,000 after buying an additional 13,500 shares during the period. US Bancorp DE boosted its stake in Fuel Tech by 25.2% during the first quarter. US Bancorp DE now owns 304,776 shares of the industrial products company’s stock worth $442,000 after buying an additional 61,300 shares during the period. Renaissance Technologies LLC raised its stake in shares of Fuel Tech by 4.2% in the 1st quarter. Renaissance Technologies LLC now owns 841,016 shares of the industrial products company’s stock valued at $1,219,000 after acquiring an additional 33,691 shares during the period. Bank of America Corp DE lifted its holdings in shares of Fuel Tech by 33.2% in the 1st quarter. Bank of America Corp DE now owns 67,609 shares of the industrial products company’s stock worth $98,000 after acquiring an additional 16,851 shares during the last quarter. Finally, Essex Investment Management Co. LLC purchased a new position in shares of Fuel Tech during the 3rd quarter worth approximately $343,000. 17.34% of the stock is currently owned by institutional investors and hedge funds.

Fuel Tech Company Profile

(Get Rating)

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 two segments, Air Pollution Control Technology and FUEL CHEM Technology. 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; over-fire air systems; 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.

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