StockNews.com Initiates Coverage on Fuel Tech (NASDAQ:FTEK)

StockNews.com assumed coverage on shares of Fuel Tech (NASDAQ:FTEK) in a report issued on Thursday. The firm issued a hold rating on the industrial products company’s stock.

Fuel Tech Stock Performance

Shares of FTEK stock opened at $1.01 on Thursday. The stock’s 50-day moving average is $1.01 and its two-hundred day moving average is $1.08. The firm has a market cap of $30.69 million, a price-to-earnings ratio of -33.67 and a beta of 4.13. Fuel Tech has a 1 year low of $0.91 and a 1 year high of $1.34.

Fuel Tech (NASDAQ:FTEK) last issued its quarterly earnings data on Tuesday, August 6th. The industrial products company reported ($0.01) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.02) by $0.01. The company had revenue of $7.04 million for the quarter, compared to analyst estimates of $5.81 million. Fuel Tech had a negative return on equity of 0.50% and a negative net margin of 0.84%. During the same quarter last year, the company posted ($0.03) earnings per share. As a group, research analysts predict that Fuel Tech will post -0.02 EPS for the current year.

Hedge Funds Weigh In On Fuel Tech

Hedge funds have recently made changes to their positions in the company. Renaissance Technologies LLC grew its holdings in shares of Fuel Tech by 5.4% during the second quarter. Renaissance Technologies LLC now owns 874,618 shares of the industrial products company’s stock worth $936,000 after buying an additional 44,512 shares during the last quarter. Essex Investment Management Co. LLC grew its holdings in shares of Fuel Tech by 42.6% during the first quarter. Essex Investment Management Co. LLC now owns 401,159 shares of the industrial products company’s stock worth $485,000 after buying an additional 119,763 shares during the last quarter. Finally, Marquette Asset Management LLC grew its holdings in shares of Fuel Tech by 14.7% during the first quarter. Marquette Asset Management LLC now owns 141,189 shares of the industrial products company’s stock worth $171,000 after buying an additional 18,133 shares during the last quarter. Hedge funds and other institutional investors own 20.94% of the company’s stock.

About Fuel Tech

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.