Fuel Tech (NASDAQ:FTEK) Announces Earnings Results

Fuel Tech (NASDAQ:FTEK) issued its quarterly earnings results on Tuesday. The industrial products company reported ($0.02) earnings per share for the quarter, meeting the Zacks’ consensus estimate of ($0.02), Morningstar.com reports. Fuel Tech had a negative net margin of 2.04% and a positive return on equity of 0.37%. The company had revenue of $9.79 million during the quarter, compared to the consensus estimate of $12.11 million.

NASDAQ FTEK traded down $0.02 on Thursday, hitting $0.92. 128,981 shares of the company were exchanged, compared to its average volume of 192,361. The company’s 50 day moving average price is $1.23. The company has a quick ratio of 2.64, a current ratio of 2.70 and a debt-to-equity ratio of 0.03. The company has a market cap of $25.15 million, a price-to-earnings ratio of 104.00 and a beta of 1.15. Fuel Tech has a twelve month low of $0.90 and a twelve month high of $3.06.

FTEK has been the topic of several recent analyst reports. TheStreet downgraded Fuel Tech from a “c-” rating to a “d+” rating in a report on Thursday, July 25th. Zacks Investment Research downgraded Fuel Tech from a “buy” rating to a “hold” rating in a report on Friday, May 17th. HC Wainwright restated a “buy” rating and set a $1.75 price objective on shares of Fuel Tech in a report on Thursday. Finally, ValuEngine downgraded Fuel Tech from a “buy” rating to a “hold” rating in a report on Monday, July 29th.

Hedge funds and other institutional investors have recently bought and sold shares of the business. Acadian Asset Management LLC raised its holdings in Fuel Tech by 1,347.4% during the 2nd quarter. Acadian Asset Management LLC now owns 155,583 shares of the industrial products company’s stock worth $218,000 after buying an additional 144,834 shares during the period. US Bancorp DE raised its holdings in Fuel Tech by 13.3% during the 1st quarter. US Bancorp DE now owns 243,476 shares of the industrial products company’s stock worth $407,000 after buying an additional 28,616 shares during the period. Essex Investment Management Co. LLC raised its holdings in Fuel Tech by 39.8% during the 2nd quarter. Essex Investment Management Co. LLC now owns 424,305 shares of the industrial products company’s stock worth $594,000 after buying an additional 120,746 shares during the period. Vanguard Group Inc. raised its holdings in Fuel Tech by 12.5% during the 2nd quarter. Vanguard Group Inc. now owns 497,934 shares of the industrial products company’s stock worth $697,000 after buying an additional 55,215 shares during the period. Finally, BlackRock Inc. raised its holdings in Fuel Tech by 9.3% during the 2nd quarter. BlackRock Inc. now owns 556,817 shares of the industrial products company’s stock worth $780,000 after buying an additional 47,552 shares during the period. Hedge funds and other institutional investors own 24.23% 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. 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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Earnings History for Fuel Tech (NASDAQ:FTEK)

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