Grace & White Inc. NY Reduces Position in Fuel Tech, Inc. $FTEK

Key Points

• Grace & White Inc. NY reduced its holdings in Fuel Tech, Inc. by 13.9% during the second quarter, owning approximately 5.31% of the company's stock valued at $4.12 million after selling 264,623 shares.
• Essex Investment Management Co. LLC increased its position in Fuel Tech by 11.8% during the first quarter, now owning 124,241 shares valued at $130,000.
• Fuel Tech's stock has a fifty-two week range of $0.87 to $3.65, with a current price of $2.81 and a market cap of $87.31 million.

Grace & White Inc. NY cut its holdings in shares of Fuel Tech, Inc. (NASDAQ:FTEK - Free Report) by 13.9% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,634,526 shares of the industrial products company's stock after selling 264,623 shares during the period. Grace & White Inc. NY owned approximately 5.31% of Fuel Tech worth $4,119,000 at the end of the most recent reporting period.

Separately, Essex Investment Management Co. LLC boosted its position in shares of Fuel Tech by 11.8% during the first quarter. Essex Investment Management Co. LLC now owns 124,241 shares of the industrial products company's stock valued at $130,000 after buying an additional 13,106 shares during the last quarter. Hedge funds and other institutional investors own 20.94% of the company's stock.

Fuel Tech Stock Performance

FTEK stock opened at $2.81 on Friday. Fuel Tech, Inc. has a fifty-two week low of $0.87 and a fifty-two week high of $3.65. The business's 50-day moving average is $3.01 and its two-hundred day moving average is $2.17. The company has a market cap of $87.31 million, a price-to-earnings ratio of -28.10 and a beta of 4.90.

Fuel Tech (NASDAQ:FTEK - Get Free Report) last posted its quarterly earnings data on Tuesday, August 5th. The industrial products company reported ($0.02) EPS for the quarter, topping the consensus estimate of ($0.03) by $0.01. Fuel Tech had a negative return on equity of 7.70% and a negative net margin of 12.89%.The firm had revenue of $5.56 million for the quarter, compared to the consensus estimate of $6.09 million. Equities analysts predict that Fuel Tech, Inc. will post -0.03 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on FTEK shares. Wall Street Zen raised Fuel Tech to a "hold" rating in a research report on Saturday, July 5th. Weiss Ratings reissued a "sell (d)" rating on shares of Fuel Tech in a report on Wednesday. One investment analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $4.00.

About Fuel Tech

Fuel Tech, Inc provides boiler optimization, efficiency improvement, and air pollution reduction and control solutions to utility and industrial customers worldwide. The company 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; NOxOUT and HERT selective non-catalytic reduction systems; selective catalytic reduction systems comprising ammonia injection grid, and graduated straightening grid systems; I-NOx systems; ESP Processes and Services; ULTRA technology; and flue gas conditioning systems.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.