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

Posted by Defense World Staff on Jul 29th, 2024

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

Separately, HC Wainwright restated a “buy” rating and issued a $4.00 target price on shares of Fuel Tech in a report on Thursday, May 9th.

Get Our Latest Stock Report on FTEK

Fuel Tech Price Performance

FTEK stock opened at $1.04 on Monday. Fuel Tech has a one year low of $0.96 and a one year high of $1.34. The firm has a 50 day simple moving average of $1.08 and a two-hundred day simple moving average of $1.12. The stock has a market cap of $31.61 million, a PE ratio of -34.67 and a beta of 4.16.

Fuel Tech (NASDAQ:FTEK – Get Free Report) last issued its earnings results on Tuesday, May 7th. The industrial products company reported $0.01 earnings per share (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 business had revenue of $4.96 million during the quarter, compared to analyst estimates of $6.73 million. On average, research analysts expect that Fuel Tech will post -0.02 EPS for the current fiscal year.

Institutional Trading of Fuel Tech

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Grace & White Inc. NY raised its stake in Fuel Tech by 6.9% during 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 buying an additional 120,527 shares during the last quarter. Acuitas Investments LLC increased its position in shares of Fuel Tech by 36.9% during the fourth quarter. Acuitas Investments LLC now owns 822,613 shares of the industrial products company’s stock valued at $864,000 after acquiring an additional 221,932 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. purchased a new position in Fuel Tech in the 4th quarter worth approximately $26,000. Essex Investment Management Co. LLC raised its stake 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 worth $485,000 after purchasing an additional 119,763 shares during the last quarter. Finally, Marquette Asset Management LLC increased its holdings 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 worth $171,000 after buying an additional 18,133 shares in the last quarter. 20.94% of the stock is owned by hedge funds and other institutional investors.

Fuel Tech Company Profile

(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.

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