US Bancorp DE raised its stake in Fuel Tech Inc (NASDAQ:FTEK) by 13.3% in the 1st quarter, HoldingsChannel reports. The fund owned 243,476 shares of the industrial products company’s stock after buying an additional 28,616 shares during the quarter. US Bancorp DE’s holdings in Fuel Tech were worth $407,000 at the end of the most recent reporting period.
Separately, Perritt Capital Management Inc. lifted its position in shares of Fuel Tech by 22.7% in the fourth quarter. Perritt Capital Management Inc. now owns 481,397 shares of the industrial products company’s stock valued at $573,000 after buying an additional 88,972 shares during the last quarter. 24.22% of the stock is currently owned by institutional investors and hedge funds.
A number of analysts have recently issued reports on the company. ValuEngine cut Fuel Tech from a “buy” rating to a “hold” rating in a research report on Wednesday, March 20th. Zacks Investment Research raised Fuel Tech from a “hold” rating to a “buy” rating and set a $1.50 price target for the company in a report on Friday, March 15th. Finally, HC Wainwright reissued a “buy” rating and set a $2.00 price target on shares of Fuel Tech in a report on Monday, March 18th.
NASDAQ:FTEK traded down $0.11 during mid-day trading on Friday, hitting $1.38. 690 shares of the stock were exchanged, compared to its average volume of 203,241. The stock has a market cap of $34.83 million, a P/E ratio of 154.00 and a beta of 1.31. The company has a current ratio of 2.70, a quick ratio of 2.64 and a debt-to-equity ratio of 0.03. Fuel Tech Inc has a fifty-two week low of $0.96 and a fifty-two week high of $3.06.
Fuel Tech (NASDAQ:FTEK) last released its quarterly earnings results on Thursday, March 14th. The industrial products company reported $0.04 earnings per share for the quarter. The business had revenue of $15.83 million during the quarter, compared to analysts’ expectations of $13.91 million. Fuel Tech had a positive return on equity of 0.37% and a negative net margin of 2.04%. As a group, sell-side analysts forecast that Fuel Tech Inc will post -0.01 EPS for the current year.
In related news, Director James J. Markowsky sold 20,000 shares of Fuel Tech stock in a transaction that occurred on Friday, March 22nd. The stock was sold at an average price of $1.66, for a total transaction of $33,200.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 13.20% of the company’s stock.
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About Fuel Tech
Fuel Tech, Inc provides boiler optimization, efficiency improvement, and air pollution reduction and control solutions to utility and industrial customers worldwide. It 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 by low and ultra-low NOx burners; over-fire air systems; NOxOUT and HERT selective non-catalytic reduction systems; advanced selective catalytic reduction systems; NOxOUT CASCADE and NOxOUT-SCR processes; ULTRA technology; ammonia injection grid and graduated straightening grid systems; and flue gas conditioning systems.
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