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

Key Points

• Zacks Research upgraded Fuel Tech from “strong sell” to “hold,” while other coverage remains mixed; MarketBeat reports an overall “Reduce” rating based on one Hold and one Sell recommendation.
• Fuel Tech reported a quarterly loss of $0.04 per share, missing the $0.02-loss consensus estimate, while revenue of $6.49 million also came in below expectations.
• FTEK shares opened at $1.67, with a market capitalization of approximately $52.1 million; institutional investors own 20.94% of the company, with several funds recently initiating or increasing positions.

Fuel Tech (NASDAQ:FTEK - Get Free Report) was upgraded by equities researchers at Zacks Research from a "strong sell" rating to a "hold" rating in a report released on Monday, Zacks reports.

A number of other brokerages have also weighed in on FTEK. Weiss Ratings restated a "sell (d-)" rating on shares of Fuel Tech in a report on Friday, September 11th. Wall Street Zen raised Fuel Tech from a "sell" rating to a "hold" rating in a report on Saturday, September 5th. One analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Reduce".

Fuel Tech Stock Performance

Shares of FTEK stock opened at $1.67 on Monday. The company has a market capitalization of $52.13 million, a price-to-earnings ratio of -15.18 and a beta of 1.28. Fuel Tech has a one year low of $1.17 and a one year high of $3.45. The company's 50-day moving average is $1.55 and its 200 day moving average is $1.51.

Fuel Tech (NASDAQ:FTEK - Get Free Report) last issued its earnings results on Tuesday, August 4th. The industrial products company reported ($0.04) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.02) by ($0.02). Fuel Tech had a negative return on equity of 8.88% and a negative net margin of 12.75%.The firm had revenue of $6.49 million during the quarter, compared to the consensus estimate of $6.58 million. As a group, research analysts predict that Fuel Tech will post -0.13 earnings per share for the current fiscal year.

Institutional Trading of Fuel Tech

A number of institutional investors have recently made changes to their positions in the stock. BlackRock Inc. purchased a new position in shares of Fuel Tech during the second quarter valued at approximately $1,097,000. Group One Trading LLC purchased a new stake in Fuel Tech in the second quarter worth approximately $31,000. GSA Capital Partners LLP purchased a new stake in Fuel Tech in the second quarter worth approximately $652,000. Renaissance Technologies LLC grew its position 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 during the period. Finally, Marquette Asset Management LLC bought a new stake in Fuel Tech in the 2nd quarter worth approximately $244,000. Hedge funds and other institutional investors own 20.94% of the company's stock.

Fuel Tech Company Profile

Fuel Tech, Inc is an environmental technology company that develops and applies proprietary solutions for air pollution control, combustion optimization and water treatment. Its customers include electric utilities, industrial facilities and other operators seeking to improve environmental performance and operating efficiency.

The company's offerings include technologies designed to reduce nitrogen oxide emissions, including selective non-catalytic reduction systems and related reagent-injection solutions.

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