Shares of Fuel Tech, Inc. (NASDAQ:FTEK – Get Free Report) passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $1.47 and traded as high as $1.78. Fuel Tech shares last traded at $1.75, with a volume of 388,256 shares.
Analyst Ratings Changes
Several equities analysts have recently commented on FTEK shares. Zacks Research downgraded shares of Fuel Tech from a “hold” rating to a “strong sell” rating in a report on Friday, August 7th. Wall Street Zen upgraded shares of Fuel Tech from a “sell” rating to a “hold” rating in a report on Saturday, September 5th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Fuel Tech in a research note on Friday. Two investment analysts have rated the stock with a Sell rating, According to data from MarketBeat, the company currently has a consensus rating of “Sell”.
Get Our Latest Stock Report on FTEK
Fuel Tech Stock Performance
Fuel Tech (NASDAQ:FTEK – Get Free Report) last issued its quarterly earnings data 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). Fuel Tech had a negative net margin of 12.75% and a negative return on equity of 8.88%. The company had revenue of $6.49 million for the quarter, compared to analysts’ expectations of $6.58 million. Equities research analysts predict that Fuel Tech, Inc. will post -0.13 EPS for the current year.
Institutional Trading of Fuel Tech
Several institutional investors and hedge funds have recently made changes to their positions in the business. BlackRock Inc. purchased a new stake in shares of Fuel Tech in the second quarter valued at approximately $1,097,000. GSA Capital Partners LLP purchased a new position in Fuel Tech during the 2nd quarter worth $652,000. Renaissance Technologies LLC raised its position in Fuel Tech by 22.6% during the 1st quarter. Renaissance Technologies LLC now owns 1,407,806 shares of the industrial products company’s stock valued at $1,718,000 after purchasing an additional 259,811 shares in the last quarter. Marquette Asset Management LLC purchased a new stake in shares of Fuel Tech in the 2nd quarter worth $244,000. Finally, Grace & White Inc. NY lifted its holdings in shares of Fuel Tech by 3.7% in the 1st quarter. Grace & White Inc. NY now owns 1,541,307 shares of the industrial products company’s stock worth $1,880,000 after buying an additional 55,424 shares during the period. 20.94% of the stock is currently owned by institutional investors.
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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