Fuel Tech (NASDAQ:FTEK) Stock Rating Raised to Hold at Zacks Research

Zacks Research upgraded shares of Fuel Tech (NASDAQ:FTEK) from a strong sell rating to a hold rating in a research report report published on Monday,Zacks reports.

FTEK has been the topic of a number of other research reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of Fuel Tech in a report on Friday, September 11th. Wall Street Zen raised shares of Fuel Tech from a “sell” rating to a “hold” rating in a research report on Saturday, September 5th. One equities research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Reduce”.

Fuel Tech Trading Up 1.2%

NASDAQ FTEK opened at $1.67 on Monday. Fuel Tech has a 1 year low of $1.17 and a 1 year high of $3.45. The company has a market cap of $52.13 million, a PE ratio of -15.18 and a beta of 1.28. The stock’s 50-day moving average price is $1.55 and its two-hundred day moving average price is $1.51.

Fuel Tech (NASDAQ:FTEK) last posted its quarterly earnings data on Tuesday, August 4th. The industrial products company reported ($0.04) earnings per share for the quarter, missing the consensus estimate of ($0.02) by ($0.02). The firm had revenue of $6.49 million for the quarter, compared to analysts’ expectations of $6.58 million. Fuel Tech had a negative return on equity of 8.88% and a negative net margin of 12.75%. Research analysts forecast that Fuel Tech will post -0.13 EPS for the current fiscal year.

Institutional Trading of Fuel Tech

Several large investors have recently added to or reduced their stakes in FTEK. Group One Trading LLC bought a new position in shares of Fuel Tech during the 2nd quarter valued at $31,000. Marquette Asset Management LLC bought a new stake in Fuel Tech in the second quarter worth $244,000. GSA Capital Partners LLP acquired a new position in Fuel Tech during the second quarter worth $652,000. BlackRock Inc. bought a new position in Fuel Tech during the second quarter valued at about $1,097,000. Finally, Renaissance Technologies LLC raised its holdings in Fuel Tech by 22.6% during the first quarter. Renaissance Technologies LLC now owns 1,407,806 shares of the industrial products company’s stock valued at $1,718,000 after buying an additional 259,811 shares in the last quarter. 20.94% of the stock is owned by institutional investors.

About Fuel Tech

Fuel Tech, Inc is an environmental technology company that develops and applies proprietary solutions for air pollution control, combustion optimization and water treatment. Its customers include electric utilities, industrial facilities and other operators seeking to improve environmental performance and operating efficiency.

The company’s offerings include technologies designed to reduce nitrogen oxide emissions, including selective non-catalytic reduction systems and related reagent-injection solutions.