Posted by admin on Jun 20th, 2022
Equities research analysts at StockNews.com initiated coverage on shares of Fuel Tech (NASDAQ:FTEK – Get Rating) in a research note issued on Monday. The brokerage set a “hold” rating on the industrial products company’s stock.
Separately, TheStreet downgraded shares of Fuel Tech from a “c-” rating to a “d” rating in a research note on Friday, March 18th.
Shares of FTEK stock opened at $1.25 on Monday. The firm has a 50-day moving average price of $1.30 and a 200 day moving average price of $1.32. Fuel Tech has a twelve month low of $1.02 and a twelve month high of $2.64. The company has a market capitalization of $37.87 million, a price-to-earnings ratio of -25.00 and a beta of 5.25.
Fuel Tech (NASDAQ:FTEK – Get Rating) last posted its quarterly earnings data on Tuesday, May 10th. The industrial products company reported ($0.03) EPS for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.01). Fuel Tech had a negative net margin of 5.42% and a negative return on equity of 2.92%. The company had revenue of $5.54 million for the quarter, compared to analyst estimates of $5.95 million. On average, sell-side analysts predict that Fuel Tech will post -0.09 EPS for the current year.
Large investors have recently modified their holdings of the company. Advisor Group Holdings Inc. grew its holdings in shares of 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. Goldman Sachs Group Inc. purchased a new stake in shares of Fuel Tech during the 3rd quarter worth about $49,000. Morgan Stanley grew its holdings in shares of Fuel Tech by 1,444.9% during the 1st quarter. Morgan Stanley now owns 38,637 shares of the industrial products company’s stock worth $121,000 after purchasing an additional 36,136 shares during the period. Bank of America Corp DE purchased a new stake in shares of Fuel Tech during the 4th quarter worth about $71,000. Finally, Marquette Asset Management LLC purchased a new stake in shares of Fuel Tech during the 4th quarter worth about $76,000. Institutional investors and hedge funds own 18.69% of the company’s stock.
About Fuel Tech (Get Rating)
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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