Posted by admin on May 11th, 2022
Zacks Investment Research upgraded shares of Fuel Tech (NASDAQ:FTEK – Get Rating) from a strong sell rating to a hold rating in a research note issued to investors on Tuesday morning, Zacks.com reports.
According to Zacks, “Fuel Tech is a leading technology company engaged in the worldwide development, commercialization and application of state-of-the-art proprietary technologies for air pollution control, process optimization, and advanced engineering services. These technologies enable customers to produce both energy and processed materials in a cost-effective and environmentally sustainable manner. The Company’s nitrogen oxide reduction technologies include the NOxOUT, NOxOUT CASCADE, NOxOUT ULTRA, Rich Reagent Injection and NOxOUT-SCR processes. These technologies have established Fuel Tech as a leader in post-combustion NOx control systems, with installations on worldwide, where coal, municipal waste, biomass, and other fuels are utilized. The Company’s FUEL CHEM technology revolves around the unique application of chemicals to improve the efficiency and reliability of combustion units by controlling slagging, fouling, corrosion and opacity. “
FTEK has been the topic of a number of other research reports. StockNews.com started coverage on shares of Fuel Tech in a research note on Tuesday, May 3rd. They issued a hold rating on the stock. TheStreet cut shares of Fuel Tech from a c- rating to a d rating in a research note on Friday, March 18th.
Shares of NASDAQ FTEK opened at $1.23 on Tuesday. Fuel Tech has a 1 year low of $1.04 and a 1 year high of $3.22. The company’s fifty day moving average price is $1.37 and its 200 day moving average price is $1.45. The company has a market capitalization of $37.26 million, a PE ratio of -123.00 and a beta of 5.25.
Fuel Tech (NASDAQ:FTEK – Get Rating) last posted its earnings results on Tuesday, March 8th. The industrial products company reported ($0.01) earnings per share (EPS) for the quarter. The firm had revenue of $6.45 million for the quarter, compared to analysts’ expectations of $7.09 million. Fuel Tech had a return on equity of 0.12% and a net margin of 0.22%. During the same period in the previous year, the company earned ($0.07) earnings per share. As a group, equities analysts predict that Fuel Tech will post -0.06 earnings per share for the current fiscal year.
A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Millennium Management LLC purchased a new stake in Fuel Tech during the 4th quarter valued at about $323,000. Grace & White Inc. NY grew its stake in shares of Fuel Tech by 10.7% in the 1st quarter. Grace & White Inc. NY now owns 1,713,933 shares of the industrial products company’s stock valued at $2,485,000 after buying an additional 165,844 shares during the period. Citadel Advisors LLC increased its holdings in shares of Fuel Tech by 350.4% during the 4th quarter. Citadel Advisors LLC now owns 118,903 shares of the industrial products company’s stock worth $166,000 after buying an additional 92,503 shares during the last quarter. GSA Capital Partners LLP raised its position in shares of Fuel Tech by 609.6% during the 3rd quarter. GSA Capital Partners LLP now owns 105,429 shares of the industrial products company’s stock valued at $183,000 after buying an additional 90,572 shares during the period. Finally, Marquette Asset Management LLC lifted its holdings in Fuel Tech by 131.2% in the first quarter. Marquette Asset Management LLC now owns 126,079 shares of the industrial products company’s stock valued at $183,000 after acquiring an additional 71,557 shares during the last quarter. Hedge funds and other institutional investors 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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