Zacks Investment Research Lowers Fuel Tech (NASDAQ:FTEK) to Sell

Fuel Tech (NASDAQ:FTEK) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a note issued to investors on Thursday, Zacks.com reports.

According to Zacks, “Fuel Tech is a leading technology company engaged in the worldwide development, commercialization and application of state-of-the-art proprietary technologies for air pollution control, process optimization, and advanced engineering services. These technologies enable customers to produce both energy and processed materials in a cost-effective and environmentally sustainable manner. The Company’s nitrogen oxide reduction technologies include the NOxOUT, NOxOUT CASCADE, NOxOUT ULTRA, Rich Reagent Injection and NOxOUT-SCR processes. These technologies have established Fuel Tech as a leader in post-combustion NOx control systems, with installations on worldwide, where coal, municipal waste, biomass, and other fuels are utilized. The Company’s FUEL CHEM technology revolves around the unique application of chemicals to improve the efficiency and reliability of combustion units by controlling slagging, fouling, corrosion and opacity. “

A number of other analysts also recently issued reports on the company. HC Wainwright reaffirmed a “buy” rating and issued a $1.75 target price on shares of Fuel Tech in a research report on Thursday, August 15th. ValuEngine raised Fuel Tech from a “hold” rating to a “buy” rating in a research report on Friday, September 6th. Finally, TheStreet downgraded Fuel Tech from a “c-” rating to a “d+” rating in a research report on Thursday, July 25th.

NASDAQ:FTEK opened at $0.98 on Thursday. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.97 and a current ratio of 3.00. The stock’s 50-day simple moving average is $0.94 and its 200 day simple moving average is $1.49. The company has a market cap of $23.46 million, a P/E ratio of 16.17 and a beta of 1.25. Fuel Tech has a 52-week low of $0.80 and a 52-week high of $3.06.

Fuel Tech (NASDAQ:FTEK) last released its earnings results on Tuesday, August 13th. The industrial products company reported ($0.02) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.02). The business had revenue of $9.79 million for the quarter, compared to the consensus estimate of $12.11 million. Fuel Tech had a positive return on equity of 4.35% and a negative net margin of 0.57%. As a group, equities analysts predict that Fuel Tech will post -0.05 earnings per share for the current fiscal year.

Several large investors have recently added to or reduced their stakes in the stock. Renaissance Technologies LLC increased its position in shares of Fuel Tech by 12.7% in the second quarter. Renaissance Technologies LLC now owns 1,101,138 shares of the industrial products company’s stock valued at $1,542,000 after acquiring an additional 123,892 shares during the last quarter. BlackRock Inc. increased its position in shares of Fuel Tech by 9.3% in the second quarter. BlackRock Inc. now owns 556,817 shares of the industrial products company’s stock valued at $780,000 after acquiring an additional 47,552 shares during the last quarter. Vanguard Group Inc. increased its position in shares of Fuel Tech by 12.5% in the second quarter. Vanguard Group Inc. now owns 497,934 shares of the industrial products company’s stock valued at $697,000 after acquiring an additional 55,215 shares during the last quarter. River & Mercantile Asset Management LLP acquired a new stake in shares of Fuel Tech in the second quarter valued at about $594,000. Finally, US Bancorp DE grew its holdings in Fuel Tech by 13.3% during the first quarter. US Bancorp DE now owns 243,476 shares of the industrial products company’s stock worth $407,000 after purchasing an additional 28,616 shares during the period. 28.41% of the stock is currently owned by institutional investors and hedge funds.

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. It 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 by low and ultra-low NOx burners; over-fire air systems; NOxOUT and HERT selective non-catalytic reduction systems; advanced selective catalytic reduction systems; NOxOUT CASCADE and NOxOUT-SCR processes; ULTRA technology; ammonia injection grid and graduated straightening grid systems; and flue gas conditioning systems.

See Also: Understanding dividend yield and dividend payout ratio

Get a free copy of the Zacks research report on Fuel Tech (FTEK)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Fuel Tech Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Fuel Tech and related companies with MarketBeat.com's FREE daily email newsletter.