Posted by admin on Jul 22nd, 2022
Equities researchers at StockNews.com assumed coverage on shares of Fuel Tech (NASDAQ:FTEK – Get Rating) in a research note issued on Friday. The brokerage set a “hold” rating on the industrial products company’s stock.
Shares of Fuel Tech stock opened at $1.24 on Friday. The company has a market capitalization of $37.57 million, a P/E ratio of -24.80 and a beta of 5.00. The company has a fifty day moving average of $1.25 and a 200 day moving average of $1.28. Fuel Tech has a fifty-two week low of $1.02 and a fifty-two week high of $2.50.
Fuel Tech (NASDAQ:FTEK – Get Rating) last announced its earnings results 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 business had revenue of $5.54 million for 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%. Analysts forecast that Fuel Tech will post -0.09 EPS for the current year.
Several large investors have recently added to or reduced their stakes in the company. GSA Capital Partners LLP raised its holdings in Fuel Tech by 54.2% in the 4th quarter. GSA Capital Partners LLP now owns 162,560 shares of the industrial products company’s stock worth $228,000 after purchasing an additional 57,131 shares during the period. Grace & White Inc. NY raised its stake in shares of Fuel Tech by 10.2% in the fourth quarter. Grace & White Inc. NY now owns 1,548,089 shares of the industrial products company’s stock valued at $2,167,000 after acquiring an additional 143,793 shares in the last quarter. Renaissance Technologies LLC raised its stake in shares of Fuel Tech by 4.2% in the first quarter. Renaissance Technologies LLC now owns 841,016 shares of the industrial products company’s stock valued at $1,219,000 after acquiring an additional 33,691 shares in the last quarter. US Bancorp DE raised its stake in Fuel Tech by 25.2% in the first quarter. US Bancorp DE now owns 304,776 shares of the industrial products company’s stock valued at $442,000 after buying an additional 61,300 shares in the last quarter. Finally, Advisor Group Holdings Inc. grew its holdings in shares of Fuel Tech by 98.6% during the first 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 last quarter. 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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