HC Wainwright Has Negative View of Fuel Tech FY2030 Earnings

Fuel Tech, Inc. (NASDAQ:FTEK) – Investment analysts at HC Wainwright dropped their FY2030 earnings estimates for Fuel Tech in a research note issued to investors on Thursday, November 5th. HC Wainwright analyst A. Dayal now expects that the industrial products company will post earnings of $0.09 per share for the year, down from their prior forecast of $0.10. The consensus estimate for Fuel Tech’s current full-year earnings is ($0.13) per share.

Fuel Tech (NASDAQ:FTEK) last issued its quarterly earnings data on Tuesday, November 3rd. The industrial products company reported ($0.01) earnings per share for the quarter, meeting the consensus estimate of ($0.01). The company had revenue of $8.68 million for the quarter, compared to analyst estimates of $7.70 million. Fuel Tech had a negative net margin of 14.22% and a negative return on equity of 10.59%.

Several other research analysts have also recently weighed in on FTEK. Wall Street Zen raised shares of Fuel Tech from a “sell” rating to a “hold” rating in a report on Saturday, September 5th. Zacks Research upgraded Fuel Tech from a “strong sell” rating to a “hold” rating in a report on Monday, October 5th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Fuel Tech in a research report on Friday, September 11th. One research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Fuel Tech has an average rating of “Reduce”.

Fuel Tech Stock Performance

Shares of FTEK stock opened at $1.37 on Monday. The company has a market capitalization of $42.77 million, a price-to-earnings ratio of -10.54 and a beta of 1.24. The company has a 50-day simple moving average of $1.56 and a 200 day simple moving average of $1.47. Fuel Tech has a 52 week low of $1.17 and a 52 week high of $2.35.

Institutional Investors Weigh In On Fuel Tech

A number of institutional investors have recently modified their holdings of the business. Group One Trading LLC acquired a new position in shares of Fuel Tech in the second quarter valued at about $31,000. BlackRock Inc. bought a new position in Fuel Tech during the second quarter worth about $1,097,000. GSA Capital Partners LLP acquired a new stake in Fuel Tech in the 2nd quarter worth about $652,000. Marquette Asset Management LLC acquired a new stake in Fuel Tech in the 2nd quarter worth about $244,000. Finally, Renaissance Technologies LLC raised its stake in 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 in the last quarter. Institutional investors own 20.94% of the company’s stock.

Fuel Tech Company Profile

Fuel Tech, Inc. is a technology company that develops and commercializes solutions for air pollution control, combustion optimization, and fuel treatment. Its products and services are designed primarily for utility, industrial, and other large combustion facilities seeking to improve operating performance and reduce emissions. The company’s air pollution control technologies focus on reducing nitrogen oxide emissions from boilers, furnaces, and other combustion equipment. Its offerings include selective and non-selective catalytic reduction systems, related reagent-injection technologies, engineering services, and software and controls used to monitor and optimize emissions-control processes.