Wall Street Zen Upgrades Fuel Tech (NASDAQ:FTEK) to Buy

Fuel Tech (NASDAQ:FTEK) was upgraded by analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a report issued on Saturday.

Separately, Weiss Ratings reissued a “sell (d-)” rating on shares of Fuel Tech in a research note on Friday, October 31st. One investment analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Fuel Tech presently has an average rating of “Hold” and a consensus target price of $4.00.

Fuel Tech Stock Down 5.6%

Shares of FTEK opened at $1.69 on Friday. Fuel Tech has a 52 week low of $0.87 and a 52 week high of $3.65. The stock’s 50-day moving average price is $2.41 and its 200-day moving average price is $2.53. The company has a market capitalization of $52.51 million, a price-to-earnings ratio of -18.78 and a beta of 0.91.

Fuel Tech (NASDAQ:FTEK) last issued its quarterly earnings data on Tuesday, November 4th. The industrial products company reported $0.01 EPS for the quarter, hitting analysts’ consensus estimates of $0.01. Fuel Tech had a negative net margin of 12.17% and a negative return on equity of 7.29%. The business had revenue of $7.49 million for the quarter, compared to analysts’ expectations of $9.39 million. As a group, equities analysts anticipate that Fuel Tech will post -0.03 EPS for the current fiscal year.

Hedge Funds Weigh In On Fuel Tech

Several hedge funds have recently bought and sold shares of FTEK. Advisory Services Network LLC boosted its position in Fuel Tech by 44.2% in the 3rd quarter. Advisory Services Network LLC now owns 21,627 shares of the industrial products company’s stock valued at $65,000 after buying an additional 6,627 shares during the period. Corsair Capital Management L.P. purchased a new stake in shares of Fuel Tech during the second quarter worth approximately $25,000. Covestor Ltd acquired a new stake in Fuel Tech in the third quarter valued at approximately $40,000. Prelude Capital Management LLC acquired a new stake in Fuel Tech in the third quarter valued at approximately $40,000. Finally, NewEdge Advisors LLC lifted its stake in Fuel Tech by 35,206.0% in the third quarter. NewEdge Advisors LLC now owns 17,653 shares of the industrial products company’s stock worth $53,000 after acquiring an additional 17,603 shares during the last quarter. Institutional investors and hedge funds own 20.94% of the company’s stock.

About Fuel Tech

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.