Fuel Tech (NASDAQ:FTEK) Now Covered by StockNews.com

Analysts at StockNews.com assumed coverage on shares of Fuel Tech (NASDAQ:FTEK – Get Rating) in a research note issued on Sunday. The firm 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 report on Friday, November 11th.

Fuel Tech Trading Down 1.2 %

Shares of NASDAQ FTEK opened at $1.66 on Friday. The company has a market cap of $50.29 million, a PE ratio of -41.50 and a beta of 4.23. Fuel Tech has a 12-month low of $1.02 and a 12-month high of $1.75. The stock has a 50 day simple moving average of $1.43 and a 200-day simple moving average of $1.32.

Fuel Tech (NASDAQ:FTEK – Get Rating) last posted its earnings results on Tuesday, November 8th. The industrial products company reported $0.01 earnings per share for the quarter, beating the consensus estimate of ($0.02) by $0.03. Fuel Tech had a negative return on equity of 2.84% and a negative net margin of 4.87%. The company had revenue of $8.02 million for the quarter, compared to analyst estimates of $6.62 million. Sell-side analysts forecast that Fuel Tech will post -0.06 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Fuel Tech

Large investors have recently modified their holdings of the business. Renaissance Technologies LLC boosted its stake in shares of Fuel Tech by 4.2% in the 1st quarter. Renaissance Technologies LLC now owns 841,016 shares of the industrial products company’s stock valued at $1,219,000 after purchasing an additional 33,691 shares in the last quarter. US Bancorp DE lifted its stake in shares of 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 during the period. Advisor Group Holdings Inc. raised its stake in Fuel Tech by 98.6% during the 1st quarter. Advisor Group Holdings Inc. now owns 27,186 shares of the industrial products company’s stock worth $182,000 after acquiring an additional 13,500 shares during the period. Bank of America Corp DE raised its position in shares of Fuel Tech by 33.2% during the first quarter. Bank of America Corp DE now owns 67,609 shares of the industrial products company’s stock valued at $98,000 after buying an additional 16,851 shares during the last quarter. Finally, Jane Street Group LLC grew its holdings in shares of Fuel Tech by 107.3% in the third quarter. Jane Street Group LLC now owns 22,731 shares of the industrial products company’s stock valued at $27,000 after purchasing an additional 11,765 shares in the last quarter. Institutional investors own 17.34% of the company’s stock.

Fuel Tech Company Profile

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Fuel Tech, Inc engages in the development, commercialization and application of proprietary technologies for air pollution control, process optimization, water treatment, and advanced engineering services. It operates through the following segments: Air Pollution Control, Fuel Chem Technologies, and Other.