Fuel Tech (NASDAQ:FTEK) Posts Quarterly Earnings Results

Fuel Tech (NASDAQ:FTEK) announced its quarterly earnings results on Tuesday. The industrial products company reported ($0.04) earnings per share (EPS) for the quarter, Zacks reports. Fuel Tech had a negative net margin of 8.71% and a negative return on equity of 5.70%.

Fuel Tech Price Performance

FTEK traded down $0.04 on Tuesday, hitting $1.59. The company had a trading volume of 217,370 shares, compared to its average volume of 187,030. The company’s fifty day moving average price is $1.32 and its 200 day moving average price is $1.64. Fuel Tech has a 1-year low of $0.93 and a 1-year high of $3.65. The stock has a market cap of $49.54 million, a price-to-earnings ratio of -22.71 and a beta of 1.38.

Institutional Investors Weigh In On Fuel Tech

Several institutional investors and hedge funds have recently added to or reduced their stakes in FTEK. Virtu Financial LLC acquired a new stake in Fuel Tech in the 4th quarter worth approximately $27,000. Prelude Capital Management LLC acquired a new stake in Fuel Tech in the 3rd quarter worth approximately $40,000. NewEdge Advisors LLC lifted its holdings in Fuel Tech by 35,206.0% in the 3rd quarter. NewEdge Advisors LLC now owns 17,653 shares of the industrial products company’s stock worth $53,000 after purchasing an additional 17,603 shares during the last quarter. Marshall Wace LLP acquired a new stake in Fuel Tech in the 2nd quarter worth approximately $63,000. Finally, Advisory Services Network LLC increased its position in Fuel Tech by 44.2% in the 3rd 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 period. 20.94% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the company. Wall Street Zen lowered Fuel Tech from a “buy” rating to a “hold” rating in a report on Saturday, March 7th. Weiss Ratings lowered Fuel Tech from a “sell (d-)” rating to a “sell (e+)” rating in a report on Wednesday, April 29th. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the stock presently has a consensus rating of “Sell”.

About Fuel Tech

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.