Wall Street Zen Downgrades Fuel Tech (NASDAQ:FTEK) to Hold

Fuel Tech (NASDAQ:FTEK) was downgraded by analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a research note issued on Saturday.

Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Fuel Tech in a report on Wednesday, January 28th. One investment analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company currently has a consensus rating of “Sell”.

Fuel Tech Price Performance

Shares of FTEK stock opened at $1.23 on Friday. The stock’s fifty day simple moving average is $1.45 and its 200 day simple moving average is $2.12. Fuel Tech has a one year low of $0.91 and a one year high of $3.65. The firm has a market cap of $37.77 million, a price-to-earnings ratio of -17.57 and a beta of 1.05.

Fuel Tech (NASDAQ:FTEK) last released its quarterly earnings data on Tuesday, March 3rd. The industrial products company reported ($0.04) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.03) by ($0.01). The company had revenue of $7.25 million for the quarter, compared to analyst estimates of $7.47 million. Fuel Tech had a negative return on equity of 5.70% and a negative net margin of 8.71%. On average, research analysts anticipate that Fuel Tech will post -0.03 earnings per share for the current year.

Institutional Trading of Fuel Tech

Hedge funds and other institutional investors have recently modified their holdings of the stock. Corsair Capital Management L.P. bought a new position in Fuel Tech in the 2nd quarter worth approximately $25,000. Virtu Financial LLC bought a new stake in shares of Fuel Tech during the fourth quarter worth $27,000. Covestor Ltd bought a new stake in shares of Fuel Tech during the third quarter worth $40,000. Prelude Capital Management LLC acquired a new position in shares of Fuel Tech during the third quarter valued at $40,000. Finally, NewEdge Advisors LLC lifted its stake in shares of Fuel Tech by 35,206.0% during the third quarter. NewEdge Advisors LLC now owns 17,653 shares of the industrial products company’s stock valued at $53,000 after acquiring an additional 17,603 shares during the period. Institutional investors and hedge funds own 20.94% of the company’s stock.

Fuel Tech Company Profile

Fuel Tech, Inc (NASDAQ: FTEK) is a specialty technology and engineering company focused on developing and supplying clean air solutions for the power generation and industrial markets. The company designs, manufactures and markets proprietary chemical reagents and process control systems that help customers reduce emissions of nitrogen oxides (NOx), mercury and other air pollutants. Its technology platform combines advanced process modeling, plant optimization software and field testing services to help utilities and industrial facilities comply with environmental regulations and improve operational efficiency.

Fuel Tech’s core product lines include selective catalytic reduction (SCR) optimization systems, activated carbon injection solutions for mercury capture, and sorbent enhancement additives for flue gas desulfurization processes.