Fuel Tech (NASDAQ:FTEK) Stock Rating Lowered by Wall Street Zen

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

Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Fuel Tech in a report on Wednesday, January 28th. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the stock presently has a consensus rating of “Sell”.

Fuel Tech Stock Performance

Shares of FTEK stock opened at $1.23 on Friday. Fuel Tech has a 52-week low of $0.91 and a 52-week high of $3.65. The company has a 50-day simple moving average of $1.45 and a two-hundred day simple moving average of $2.13. The company has a market capitalization of $37.77 million, a price-to-earnings ratio of -17.57 and a beta of 1.05.

Fuel Tech (NASDAQ:FTEK) last posted its quarterly earnings data on Tuesday, March 3rd. The industrial products company reported ($0.04) EPS for the quarter, missing the consensus estimate of ($0.03) by ($0.01). Fuel Tech had a negative net margin of 8.71% and a negative return on equity of 5.70%. The firm had revenue of $7.25 million during the quarter, compared to analysts’ expectations of $7.47 million. On average, sell-side analysts forecast that Fuel Tech will post -0.03 EPS for the current fiscal year.

Hedge Funds Weigh In On Fuel Tech

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Virtu Financial LLC bought a new stake in shares of Fuel Tech in the fourth quarter valued at approximately $27,000. Beartown Capital Management LLC bought a new position in Fuel Tech in the 4th quarter worth approximately $250,000. XTX Topco Ltd boosted its holdings in Fuel Tech by 218.3% in the 4th quarter. XTX Topco Ltd now owns 178,303 shares of the industrial products company’s stock worth $278,000 after buying an additional 122,291 shares during the period. Marshall Wace LLP purchased a new position in Fuel Tech in the 4th quarter valued at approximately $126,000. Finally, State Street Corp grew its stake in Fuel Tech by 7.1% in the 4th quarter. State Street Corp now owns 121,846 shares of the industrial products company’s stock valued at $190,000 after buying an additional 8,100 shares in the last quarter. Institutional investors own 20.94% of the company’s stock.

About Fuel Tech

Fuel Tech, Inc (NASDAQ: FTEK) is a specialty technology and engineering company focused on developing and supplying clean air solutions for the power generation and industrial markets. The company designs, manufactures and markets proprietary chemical reagents and process control systems that help customers reduce emissions of nitrogen oxides (NOx), mercury and other air pollutants. Its technology platform combines advanced process modeling, plant optimization software and field testing services to help utilities and industrial facilities comply with environmental regulations and improve operational efficiency.

Fuel Tech’s core product lines include selective catalytic reduction (SCR) optimization systems, activated carbon injection solutions for mercury capture, and sorbent enhancement additives for flue gas desulfurization processes.