Fuel Tech (NASDAQ:FTEK) Lowered to “Sell” Rating by Wall Street Zen

Wall Street Zen cut shares of Fuel Tech (NASDAQ:FTEK) from a hold rating to a sell rating in a research note issued to investors on Saturday.

Separately, Weiss Ratings downgraded Fuel Tech from a “sell (d-)” rating to a “sell (e+)” rating in a report on Wednesday, April 29th. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of “Sell”.

Fuel Tech Price Performance

Shares of FTEK opened at $1.52 on Friday. The company has a market capitalization of $47.37 million, a price-to-earnings ratio of -16.89 and a beta of 1.38. Fuel Tech has a fifty-two week low of $0.93 and a fifty-two week high of $3.65. The business’s 50-day moving average is $1.32 and its 200-day moving average is $1.61.

Fuel Tech (NASDAQ:FTEK) last issued its earnings results on Tuesday, May 5th. The industrial products company reported ($0.04) earnings per share for the quarter. The business had revenue of $6.08 million during the quarter, compared to analyst estimates of $7.62 million. Fuel Tech had a negative net margin of 11.15% and a negative return on equity of 7.34%. Equities research analysts expect that Fuel Tech will post -0.12 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Fuel Tech

Hedge funds have recently added to or reduced their stakes in the company. Marshall Wace LLP acquired a new position in Fuel Tech in the fourth quarter worth approximately $126,000. Boothbay Fund Management LLC acquired a new position in Fuel Tech in the third quarter worth approximately $124,000. Integrated Wealth Concepts LLC acquired a new position in Fuel Tech in the third quarter worth approximately $105,000. Group One Trading LLC increased its holdings in Fuel Tech by 26.1% in the fourth quarter. Group One Trading LLC now owns 42,509 shares of the industrial products company’s stock worth $66,000 after buying an additional 8,803 shares during the last quarter. Finally, Advisory Services Network LLC increased its holdings in Fuel Tech by 44.2% in the third quarter. Advisory Services Network LLC now owns 21,627 shares of the industrial products company’s stock worth $65,000 after buying an additional 6,627 shares during the last quarter. 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.