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

StockNews.com started coverage on shares of Fuel Tech (NASDAQ:FTEK) in a research note published on Saturday. The brokerage issued a hold rating on the industrial products company’s stock.

Fuel Tech Price Performance

Shares of NASDAQ:FTEK opened at $1.02 on Friday. The company’s fifty day moving average is $1.02 and its 200 day moving average is $1.07. Fuel Tech has a 52 week low of $0.91 and a 52 week high of $1.34. The stock has a market cap of $31.32 million, a PE ratio of -102.00 and a beta of 4.13.

Fuel Tech (NASDAQ:FTEK) last released its quarterly earnings data on Tuesday, August 6th. The industrial products company reported ($0.01) earnings per share for the quarter, beating the consensus estimate of ($0.02) by $0.01. Fuel Tech had a negative net margin of 0.84% and a negative return on equity of 0.50%. The firm had revenue of $7.04 million during the quarter, compared to analysts’ expectations of $5.81 million. During the same period in the previous year, the company earned ($0.03) earnings per share. Sell-side analysts anticipate that Fuel Tech will post -0.02 EPS for the current year.

Hedge Funds Weigh In On Fuel Tech

Institutional investors have recently made changes to their positions in the company. Renaissance Technologies LLC boosted its position in shares of Fuel Tech by 5.4% during the 2nd quarter. Renaissance Technologies LLC now owns 874,618 shares of the industrial products company’s stock valued at $936,000 after acquiring an additional 44,512 shares during the last quarter. Essex Investment Management Co. LLC increased its position in Fuel Tech by 42.6% in the 1st quarter. Essex Investment Management Co. LLC now owns 401,159 shares of the industrial products company’s stock valued at $485,000 after acquiring an additional 119,763 shares during the period. Finally, Marquette Asset Management LLC increased its position in Fuel Tech by 14.7% in the 1st quarter. Marquette Asset Management LLC now owns 141,189 shares of the industrial products company’s stock valued at $171,000 after acquiring an additional 18,133 shares during the period. 20.94% of the stock is owned by hedge funds and other institutional investors.

Fuel Tech Company Profile

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.