Fuel Tech (NASDAQ:FTEK) Upgraded to Hold at Zacks Research

Fuel Tech (NASDAQ:FTEK) was upgraded by equities researchers at Zacks Research from a “strong sell” rating to a “hold” rating in a note issued to investors on Monday,Zacks.com reports.

A number of other brokerages also recently issued reports on FTEK. Wall Street Zen downgraded shares of Fuel Tech from a “hold” rating to a “sell” rating in a research report on Saturday, May 9th. Weiss Ratings upgraded Fuel Tech from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Monday, June 15th. One investment analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Reduce”.

Fuel Tech Stock Down 3.8%

Shares of NASDAQ:FTEK opened at $1.78 on Monday. The business’s 50 day moving average is $1.58 and its 200 day moving average is $1.46. Fuel Tech has a 12-month low of $1.17 and a 12-month high of $3.65. The stock has a market cap of $55.48 million, a price-to-earnings ratio of -19.78 and a beta of 1.24.

Fuel Tech (NASDAQ:FTEK) last posted its quarterly earnings data on Tuesday, May 5th. The industrial products company reported ($0.04) earnings per share (EPS) for the quarter. The firm had revenue of $6.08 million for the quarter, compared to analysts’ expectations of $7.62 million. Fuel Tech had a negative return on equity of 7.34% and a negative net margin of 11.15%. As a group, equities research analysts expect that Fuel Tech will post -0.12 earnings per share for the current year.

Hedge Funds Weigh In On Fuel Tech

Institutional investors have recently added to or reduced their stakes in the stock. Renaissance Technologies LLC raised its holdings in shares of Fuel Tech by 22.6% in the 1st quarter. Renaissance Technologies LLC now owns 1,407,806 shares of the industrial products company’s stock worth $1,718,000 after purchasing an additional 259,811 shares during the period. Beartown Capital Management LLC purchased a new stake in Fuel Tech in the fourth quarter worth $250,000. XTX Topco Ltd increased its position in Fuel Tech by 218.3% in the fourth quarter. XTX Topco Ltd now owns 178,303 shares of the industrial products company’s stock worth $278,000 after buying an additional 122,291 shares during the last quarter. Marshall Wace LLP bought a new stake in shares of Fuel Tech in the fourth quarter valued at $126,000. Finally, Vanguard Group Inc. raised its stake in shares of Fuel Tech by 7.7% in the third quarter. Vanguard Group Inc. now owns 1,013,864 shares of the industrial products company’s stock valued at $3,042,000 after buying an additional 72,895 shares during the period. Institutional investors 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.