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

Posted by on Jun 23rd, 2023

Analysts at StockNews.com started coverage on shares of Fuel Tech (NASDAQ:FTEK – Get Rating) in a research report issued on Friday. 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 Stock Performance

NASDAQ FTEK opened at $1.34 on Friday. The company has a market cap of $40.60 million, a P/E ratio of -67.00 and a beta of 4.34. The business’s 50 day moving average price is $1.32 and its 200-day moving average price is $1.38. Fuel Tech has a fifty-two week low of $1.13 and a fifty-two week high of $1.83.

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 (EPS) for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.01. Fuel Tech had a negative return on equity of 1.92% and a negative net margin of 2.99%. The company had revenue of $7.29 million during the quarter, compared to analysts’ expectations of $6.35 million. As a group, equities analysts predict that Fuel Tech will post -0.05 EPS for the current year.

Institutional Investors Weigh In On Fuel Tech

Several hedge funds have recently made changes to their positions in the company. Renaissance Technologies LLC lifted its holdings in shares of Fuel Tech by 5.1% in the 1st quarter. Renaissance Technologies LLC now owns 864,944 shares of the industrial products company’s stock worth $1,107,000 after buying an additional 42,357 shares during the period. Charles Schwab Investment Management Inc. bought a new position in shares of Fuel Tech in the 1st quarter worth $32,000. Virtu Financial LLC raised its position in shares of Fuel Tech by 150.2% in the 4th quarter. Virtu Financial LLC now owns 26,898 shares of the industrial products company’s stock worth $34,000 after acquiring an additional 16,147 shares in the last quarter. Susquehanna International Group LLP raised its position in shares of Fuel Tech by 19.2% in the 4th quarter. Susquehanna International Group LLP now owns 70,877 shares of the industrial products company’s stock worth $90,000 after acquiring an additional 11,437 shares in the last quarter. Finally, Essex Investment Management Co. LLC raised its position in shares of Fuel Tech by 35.3% in the 4th quarter. Essex Investment Management Co. LLC now owns 396,238 shares of the industrial products company’s stock worth $505,000 after acquiring an additional 103,483 shares in the last quarter. 18.55% of the stock is currently owned by hedge funds and other institutional investors.

About Fuel Tech

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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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