According to Zacks, “Fuel Tech is a leading technology company engaged in the worldwide development, commercialization and application of state-of-the-art proprietary technologies for air pollution control, process optimization, and advanced engineering services. These technologies enable customers to produce both energy and processed materials in a cost-effective and environmentally sustainable manner. The Company’s nitrogen oxide reduction technologies include the NOxOUT, NOxOUT CASCADE, NOxOUT ULTRA, Rich Reagent Injection and NOxOUT-SCR processes. These technologies have established Fuel Tech as a leader in post-combustion NOx control systems, with installations on worldwide, where coal, municipal waste, biomass, and other fuels are utilized. The Company’s FUEL CHEM technology revolves around the unique application of chemicals to improve the efficiency and reliability of combustion units by controlling slagging, fouling, corrosion and opacity. “
A number of other research analysts have also commented on FTEK. TheStreet lowered Fuel Tech from a “c-” rating to a “d+” rating in a research report on Thursday, July 25th. ValuEngine upgraded Fuel Tech from a “hold” rating to a “buy” rating in a research report on Friday, September 6th. Finally, HC Wainwright reiterated a “buy” rating and issued a $1.75 price objective on shares of Fuel Tech in a research report on Thursday, August 15th.
Shares of FTEK opened at $0.98 on Thursday. The firm has a market capitalization of $23.46 million, a price-to-earnings ratio of 16.17 and a beta of 1.25. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.97 and a current ratio of 3.00. The business’s fifty day moving average price is $0.94 and its two-hundred day moving average price is $1.49. Fuel Tech has a 52 week low of $0.80 and a 52 week high of $3.06.
Fuel Tech (NASDAQ:FTEK) last announced its quarterly earnings data on Tuesday, August 13th. The industrial products company reported ($0.02) EPS for the quarter, meeting the Zacks’ consensus estimate of ($0.02). The firm had revenue of $9.79 million for the quarter, compared to analyst estimates of $12.11 million. Fuel Tech had a positive return on equity of 4.35% and a negative net margin of 0.57%. As a group, research analysts forecast that Fuel Tech will post -0.05 EPS for the current year.
A number of institutional investors and hedge funds have recently made changes to their positions in the business. Renaissance Technologies LLC boosted its position in Fuel Tech by 12.7% in the 2nd quarter. Renaissance Technologies LLC now owns 1,101,138 shares of the industrial products company’s stock valued at $1,542,000 after buying an additional 123,892 shares during the last quarter. BlackRock Inc. boosted its position in shares of Fuel Tech by 9.3% in the 2nd quarter. BlackRock Inc. now owns 556,817 shares of the industrial products company’s stock worth $780,000 after purchasing an additional 47,552 shares during the last quarter. Vanguard Group Inc. boosted its position in shares of Fuel Tech by 12.5% in the 2nd quarter. Vanguard Group Inc. now owns 497,934 shares of the industrial products company’s stock worth $697,000 after purchasing an additional 55,215 shares during the last quarter. River & Mercantile Asset Management LLP bought a new position in shares of Fuel Tech in the 2nd quarter worth $594,000. Finally, US Bancorp DE boosted its position in shares of Fuel Tech by 13.3% in the 1st quarter. US Bancorp DE now owns 243,476 shares of the industrial products company’s stock worth $407,000 after purchasing an additional 28,616 shares during the last quarter. Hedge funds and other institutional investors own 28.41% of the company’s stock.
Fuel Tech Company Profile
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.
Further Reading: Price to Earnings Ratio (PE)
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Fuel Tech Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Fuel Tech and related companies with MarketBeat.com's FREE daily email newsletter.