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

Posted by Defense World Staff on Jun 19th, 2024

Analysts at StockNews.com started coverage on shares of Fuel Tech (NASDAQ:FTEK – Get Free Report) in a research report issued on Wednesday. The brokerage set a “hold” rating on the industrial products company’s stock.

Separately, HC Wainwright reissued a “buy” rating and issued a $4.00 price objective on shares of Fuel Tech in a research note on Thursday, May 9th.

View Our Latest Research Report on Fuel Tech

Fuel Tech Stock Performance

Shares of FTEK opened at $1.06 on Wednesday. The firm has a market cap of $32.21 million, a price-to-earnings ratio of -35.33 and a beta of 4.06. The stock has a 50 day moving average of $1.16 and a 200-day moving average of $1.12. Fuel Tech has a 52 week low of $0.96 and a 52 week high of $1.39.

Fuel Tech (NASDAQ:FTEK – Get Free Report) last issued its earnings results on Tuesday, May 7th. The industrial products company reported $0.01 EPS for the quarter, topping the consensus estimate of ($0.01) by $0.02. Fuel Tech had a negative return on equity of 1.92% and a negative net margin of 3.41%. The company had revenue of $4.96 million during the quarter, compared to analyst estimates of $6.73 million. On average, sell-side analysts predict that Fuel Tech will post -0.02 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Fuel Tech

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Migdal Insurance & Financial Holdings Ltd. bought a new position in Fuel Tech during the fourth quarter worth about $26,000. Marquette Asset Management LLC lifted its holdings in 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 acquiring an additional 18,133 shares in the last quarter. Essex Investment Management Co. LLC lifted its holdings in shares of Fuel Tech by 42.6% in the first quarter. Essex Investment Management Co. LLC now owns 401,159 shares of the industrial products company’s stock valued at $485,000 after purchasing an additional 119,763 shares in the last quarter. Acuitas Investments LLC lifted its holdings in shares of Fuel Tech by 36.9% in the fourth quarter. Acuitas Investments LLC now owns 822,613 shares of the industrial products company’s stock valued at $864,000 after purchasing an additional 221,932 shares in the last quarter. Finally, Grace & White Inc. NY lifted its holdings in shares of Fuel Tech by 6.9% in the fourth quarter. Grace & White Inc. NY now owns 1,859,922 shares of the industrial products company’s stock valued at $1,953,000 after purchasing an additional 120,527 shares in the last quarter. 20.94% of the stock is owned by institutional investors and hedge funds.

About Fuel Tech

(Get Free Report)

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.