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

Investment analysts at StockNews.com assumed coverage on shares of Fuel Tech (NASDAQ:FTEKGet Rating) in a research report issued to clients and investors on Saturday. The brokerage set a “hold” rating on the industrial products company’s stock.

Separately, TheStreet raised shares of Fuel Tech from a “d” rating to a “c-” rating in a research note on Friday, November 11th.

Fuel Tech Trading Up 0.6 %

Shares of Fuel Tech stock opened at $1.70 on Friday. The firm has a market capitalization of $51.50 million, a PE ratio of -42.50 and a beta of 4.23. Fuel Tech has a twelve month low of $1.02 and a twelve month high of $1.75. The firm’s 50-day moving average price is $1.39 and its 200 day moving average price is $1.31.

Fuel Tech (NASDAQ:FTEKGet Rating) last issued its quarterly earnings results on Tuesday, November 8th. The industrial products company reported $0.01 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.03. The firm had revenue of $8.02 million for the quarter, compared to analyst estimates of $6.62 million. Fuel Tech had a negative net margin of 4.87% and a negative return on equity of 2.84%. On average, sell-side analysts predict that Fuel Tech will post -0.06 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of FTEK. Advisor Group Holdings Inc. lifted its stake in Fuel Tech by 98.6% in the 1st quarter. Advisor Group Holdings Inc. now owns 27,186 shares of the industrial products company’s stock worth $182,000 after purchasing an additional 13,500 shares in the last quarter. US Bancorp DE lifted its stake in Fuel Tech by 25.2% in the 1st quarter. US Bancorp DE now owns 304,776 shares of the industrial products company’s stock worth $442,000 after purchasing an additional 61,300 shares in the last quarter. Renaissance Technologies LLC lifted its stake in Fuel Tech by 4.2% in the 1st quarter. Renaissance Technologies LLC now owns 841,016 shares of the industrial products company’s stock worth $1,219,000 after purchasing an additional 33,691 shares in the last quarter. Bank of America Corp DE lifted its stake in Fuel Tech by 33.2% in the 1st quarter. Bank of America Corp DE now owns 67,609 shares of the industrial products company’s stock worth $98,000 after purchasing an additional 16,851 shares in the last quarter. Finally, Essex Investment Management Co. LLC purchased a new position in Fuel Tech in the 3rd quarter worth approximately $343,000. 17.34% of the stock is owned by hedge funds and other institutional investors.

About Fuel Tech

(Get Rating)

Fuel Tech, Inc provides boiler optimization, efficiency improvement, and air pollution reduction and control solutions to utility and industrial customers worldwide. It operates through two segments, Air Pollution Control Technology and FUEL CHEM Technology. 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; 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; and burner systems.

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