Fuel Tech (NASDAQ:FTEK) Releases Quarterly Earnings Results, Beats Estimates By $0.01 EPS

Key Points

• Fuel Tech (NASDAQ:FTEK) reported a quarterly earnings per share of ($0.02), beating estimates by $0.01.
• The company’s stock increased by 5.7%, reaching $2.96 during trading hours, with a market cap of $91.11 million.
• Wall Street analysts upgraded Fuel Tech to a "hold" rating, indicating a more favorable outlook for the company.

Fuel Tech (NASDAQ:FTEK - Get Free Report) announced its quarterly earnings data on Tuesday. The industrial products company reported ($0.02) earnings per share for the quarter, beating the consensus estimate of ($0.03) by $0.01, Zacks reports. Fuel Tech had a negative return on equity of 6.94% and a negative net margin of 11.16%.

Fuel Tech Stock Up 5.7%

Shares of FTEK stock traded up $0.16 during trading hours on Tuesday, hitting $2.96. 683,043 shares of the company's stock traded hands, compared to its average volume of 307,357. Fuel Tech has a 12-month low of $0.87 and a 12-month high of $3.03. The stock has a market cap of $91.11 million, a price-to-earnings ratio of -32.89 and a beta of 4.63. The stock's fifty day simple moving average is $2.36 and its two-hundred day simple moving average is $1.49.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen upgraded Fuel Tech to a "hold" rating in a research report on Saturday, July 5th.

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.

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