Wall Street Zen upgraded shares of Fuel Tech (NASDAQ:FTEK – Free Report) from a sell rating to a hold rating in a report issued on Saturday morning,Wall Street Zen reports.
Several other equities analysts have also recently weighed in on FTEK. Zacks Research cut Fuel Tech from a “hold” rating to a “strong sell” rating in a research report on Friday, August 7th. Weiss Ratings raised Fuel Tech from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Monday, June 15th. Two investment analysts have rated the stock with a Sell rating, According to data from MarketBeat.com, Fuel Tech currently has a consensus rating of “Sell”.
Fuel Tech Trading Up 8.4%
Fuel Tech (NASDAQ:FTEK – Get Free Report) last posted its earnings results on Tuesday, August 4th. The industrial products company reported ($0.04) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.02). The firm had revenue of $6.49 million during the quarter, compared to analyst estimates of $6.58 million. Fuel Tech had a negative net margin of 12.75% and a negative return on equity of 8.88%. Equities research analysts forecast that Fuel Tech will post -0.13 EPS for the current fiscal year.
Institutional Investors Weigh In On Fuel Tech
Institutional investors have recently added to or reduced their stakes in the company. Geode Capital Management LLC increased its stake in Fuel Tech by 3.6% during the second quarter. Geode Capital Management LLC now owns 517,658 shares of the industrial products company’s stock valued at $1,305,000 after acquiring an additional 17,766 shares during the period. Marshall Wace LLP acquired a new stake in shares of Fuel Tech during the 2nd quarter worth approximately $63,000. Vanguard Group Inc. increased its position in shares of Fuel Tech by 7.7% during the third quarter. Vanguard Group Inc. now owns 1,013,864 shares of the industrial products company’s stock valued at $3,042,000 after purchasing an additional 72,895 shares during the period. Dimensional Fund Advisors LP bought a new stake in shares of Fuel Tech during the third quarter valued at approximately $163,000. Finally, Boothbay Fund Management LLC acquired a new position in shares of Fuel Tech in the third quarter valued at $124,000. 20.94% of the stock is owned by institutional investors and hedge funds.
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.
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