Fuel Tech (NASDAQ:FTEK) Upgraded at Zacks Research

Zacks Research upgraded shares of Fuel Tech (NASDAQ:FTEK – Free Report) from a strong sell rating to a hold rating in a research note released on Monday,Zacks reports.

A number of other equities research analysts have also commented on the company. Wall Street Zen raised Fuel Tech from a “sell” rating to a “hold” rating in a research report on Saturday, September 5th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Fuel Tech in a report on Friday, September 11th. One research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Fuel Tech currently has a consensus rating of “Reduce”.

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Check Out Our Latest Stock Analysis on FTEK

Fuel Tech Stock Performance

Shares of NASDAQ FTEK opened at $1.67 on Monday. The stock has a market cap of $52.14 million, a price-to-earnings ratio of -15.18 and a beta of 1.28. Fuel Tech has a fifty-two week low of $1.17 and a fifty-two week high of $3.45. The firm’s 50-day simple moving average is $1.56 and its 200 day simple moving average is $1.52.

Fuel Tech (NASDAQ:FTEK – Get Free Report) last issued its quarterly earnings data on Tuesday, August 4th. The industrial products company reported ($0.04) EPS for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.02). The company had revenue of $6.49 million for the quarter, compared to the consensus estimate of $6.58 million. Fuel Tech had a negative return on equity of 8.88% and a negative net margin of 12.75%. On average, sell-side analysts predict that Fuel Tech will post -0.13 EPS for the current year.

Hedge Funds Weigh In On Fuel Tech

Several institutional investors have recently modified their holdings of FTEK. Group One Trading LLC purchased a new stake in shares of Fuel Tech during the second quarter valued at approximately $31,000. Marquette Asset Management LLC purchased a new position in Fuel Tech in the second quarter worth $244,000. GSA Capital Partners LLP bought a new position in Fuel Tech in the 2nd quarter valued at $652,000. BlackRock Inc. bought a new position in Fuel Tech in the 2nd quarter valued at $1,097,000. Finally, Renaissance Technologies LLC increased its position in shares of 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 during the last quarter. 20.94% of the stock is owned by institutional investors.

About Fuel Tech

(Get Free Report)

Fuel Tech, Inc is an environmental technology company that develops and applies proprietary solutions for air pollution control, combustion optimization and water treatment. Its customers include electric utilities, industrial facilities and other operators seeking to improve environmental performance and operating efficiency.

The company’s offerings include technologies designed to reduce nitrogen oxide emissions, including selective non-catalytic reduction systems and related reagent-injection solutions.

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