Fuel Tech (NASDAQ:FTEK) Announces Earnings Results

Fuel Tech (NASDAQ:FTEK) issued its quarterly earnings results on Tuesday. The industrial products company reported ($0.04) EPS for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.02), FiscalAI reports. The company had revenue of $6.49 million during the quarter, compared to the consensus estimate of $6.58 million. Fuel Tech had a negative return on equity of 7.34% and a negative net margin of 11.15%.

Fuel Tech Stock Performance

Shares of FTEK stock traded up $0.03 on Tuesday, hitting $1.53. 212,745 shares of the company’s stock traded hands, compared to its average volume of 96,586. The stock has a market capitalization of $47.69 million, a price-to-earnings ratio of -17.00 and a beta of 1.29. The company’s fifty day simple moving average is $1.60 and its 200 day simple moving average is $1.45. Fuel Tech has a one year low of $1.17 and a one year high of $3.65.

Institutional Trading of Fuel Tech

Several institutional investors have recently added to or reduced their stakes in the business. Virtu Financial LLC purchased a new position in shares of Fuel Tech in the fourth quarter worth about $27,000. Prelude Capital Management LLC bought a new position in Fuel Tech during the 3rd quarter worth approximately $40,000. NewEdge Advisors LLC increased its stake 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 period. Marshall Wace LLP bought a new stake in Fuel Tech in the second quarter valued at approximately $63,000. Finally, Advisory Services Network LLC boosted its stake in shares of Fuel Tech by 44.2% during the third quarter. Advisory Services Network LLC now owns 21,627 shares of the industrial products company’s stock valued at $65,000 after purchasing an additional 6,627 shares during the period. 20.94% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on FTEK. Weiss Ratings raised shares of Fuel Tech from a “sell (e+)” rating to a “sell (d-)” rating in a report on Monday, June 15th. Zacks Research raised Fuel Tech from a “strong sell” rating to a “hold” rating in a research note on Monday, July 6th. Finally, Wall Street Zen lowered Fuel Tech from a “hold” rating to a “sell” rating in a research note on Saturday, May 9th. One research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Fuel Tech presently has a consensus rating of “Reduce”.

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.