Posted by admin on Aug 7th, 2022
Stock analysts at StockNews.com started coverage on shares of Fuel Tech (NASDAQ:FTEK – Get Rating) in a research note issued on Sunday. The brokerage set a “hold” rating on the industrial products company’s stock.
NASDAQ:FTEK opened at $1.32 on Friday. The company has a market capitalization of $40.00 million, a P/E ratio of -26.40 and a beta of 4.76. Fuel Tech has a 52 week low of $1.02 and a 52 week high of $2.50. The stock’s fifty day moving average is $1.26 and its two-hundred day moving average is $1.28.
Fuel Tech (NASDAQ:FTEK – Get Rating) last posted its quarterly earnings data on Tuesday, May 10th. The industrial products company reported ($0.03) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.02) by ($0.01). The firm had revenue of $5.54 million during the quarter, compared to analysts’ expectations of $5.95 million. Fuel Tech had a negative net margin of 5.42% and a negative return on equity of 2.92%. Sell-side analysts anticipate that Fuel Tech will post -0.09 earnings per share for the current fiscal year.
Several large investors have recently bought and sold shares of the stock. Bank of America Corp DE increased its holdings in Fuel Tech by 33.2% during the 1st quarter. Bank of America Corp DE now owns 67,609 shares of the industrial products company’s stock worth $98,000 after purchasing an additional 16,851 shares during the period. Renaissance Technologies LLC increased its holdings in Fuel Tech by 4.2% during the 1st quarter. Renaissance Technologies LLC now owns 841,016 shares of the industrial products company’s stock worth $1,219,000 after purchasing an additional 33,691 shares during the period. US Bancorp DE increased its holdings in Fuel Tech by 25.2% during the 1st quarter. US Bancorp DE now owns 304,776 shares of the industrial products company’s stock worth $442,000 after purchasing an additional 61,300 shares during the period. Advisor Group Holdings Inc. increased its holdings in Fuel Tech by 98.6% during the 1st quarter. Advisor Group Holdings Inc. now owns 27,186 shares of the industrial products company’s stock worth $182,000 after purchasing an additional 13,500 shares during the period. Finally, Marquette Asset Management LLC increased its holdings in Fuel Tech by 131.2% during the 1st quarter. Marquette Asset Management LLC now owns 126,079 shares of the industrial products company’s stock worth $183,000 after purchasing an additional 71,557 shares during the period. Hedge funds and other institutional investors own 18.69% of the company’s stock.
Fuel Tech, Inc provides boiler optimization, efficiency improvement, and air pollution reduction and control solutions to utility and industrial customers worldwide. It operates through two segments, Air Pollution Control Technology and FUEL CHEM Technology. 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; selective catalytic reduction systems comprising ammonia injection grid, and graduated straightening grid systems; I-NOx systems; ESP Processes and Services; ULTRA technology; and flue gas conditioning systems; and burner systems.
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