Fuel Tech (NASDAQ:FTEK) Trading Up 5.9%

Fuel Tech Inc (NASDAQ:FTEK)’s share price was up 5.9% during trading on Thursday . The company traded as high as $1.18 and last traded at $1.08, approximately 137,000 shares were traded during mid-day trading. A decline of 16% from the average daily volume of 162,843 shares. The stock had previously closed at $1.02.

A number of equities analysts have commented on FTEK shares. ValuEngine upgraded shares of Fuel Tech from a “hold” rating to a “buy” rating in a report on Friday, September 6th. Zacks Investment Research upgraded shares of Fuel Tech from a “sell” rating to a “hold” rating in a report on Wednesday, October 16th. TheStreet downgraded shares of Fuel Tech from a “c-” rating to a “d+” rating in a report on Thursday, July 25th. Finally, HC Wainwright reiterated a “buy” rating and issued a $1.75 target price on shares of Fuel Tech in a report on Thursday, August 15th.

The firm has a market capitalization of $23.70 million, a P/E ratio of 16.33 and a beta of 1.25. The company has a debt-to-equity ratio of 0.03, a current ratio of 3.00 and a quick ratio of 2.97. The stock’s fifty day simple moving average is $0.98 and its 200 day simple moving average is $1.44.

Fuel Tech (NASDAQ:FTEK) last announced its earnings results on Tuesday, August 13th. The industrial products company reported ($0.02) EPS for the quarter, hitting the Zacks’ consensus estimate of ($0.02). The business had revenue of $9.79 million during the quarter, compared to the consensus estimate of $12.11 million. Fuel Tech had a negative net margin of 0.57% and a positive return on equity of 4.35%. As a group, sell-side analysts forecast that Fuel Tech Inc will post -0.05 EPS for the current fiscal year.

A number of institutional investors have recently made changes to their positions in the business. Acadian Asset Management LLC increased its holdings in shares of Fuel Tech by 1,347.4% during the second quarter. Acadian Asset Management LLC now owns 155,583 shares of the industrial products company’s stock valued at $218,000 after acquiring an additional 144,834 shares in the last quarter. River & Mercantile Asset Management LLP acquired a new position in shares of Fuel Tech during the second quarter valued at about $594,000. Vanguard Group Inc. increased its holdings in shares of Fuel Tech by 12.5% during the second quarter. Vanguard Group Inc. now owns 497,934 shares of the industrial products company’s stock valued at $697,000 after acquiring an additional 55,215 shares in the last quarter. BlackRock Inc. increased its holdings in shares of Fuel Tech by 9.3% during the second quarter. BlackRock Inc. now owns 556,817 shares of the industrial products company’s stock valued at $780,000 after acquiring an additional 47,552 shares in the last quarter. Finally, Renaissance Technologies LLC increased its holdings in shares of Fuel Tech by 12.7% during the second quarter. Renaissance Technologies LLC now owns 1,101,138 shares of the industrial products company’s stock valued at $1,542,000 after acquiring an additional 123,892 shares in the last quarter. Institutional investors and hedge funds own 28.40% of the company’s stock.

Fuel Tech Company Profile (NASDAQ:FTEK)

Fuel Tech, Inc provides boiler optimization, efficiency improvement, and air pollution reduction and control solutions to utility and industrial customers worldwide. It operates through Air Pollution Control Technology and FUEL CHEM Technology segments. The Air Pollution Control Technology segment offers technologies to reduce nitrogen oxide (NOx) emissions in flue gas from boilers, incinerators, furnaces, and other stationary combustion sources by low and ultra-low NOx burners; over-fire air systems; NOxOUT and HERT selective non-catalytic reduction systems; advanced selective catalytic reduction systems; NOxOUT CASCADE and NOxOUT-SCR processes; ULTRA technology; ammonia injection grid and graduated straightening grid systems; and flue gas conditioning systems.

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