Fuel Tech (NASDAQ:FTEK) Announces Earnings Results

Fuel Tech (NASDAQ:FTEK) issued its quarterly earnings data on Tuesday. The industrial products company reported ($0.04) earnings per share for the quarter, Zacks reports. The firm had revenue of $6.08 million for the quarter, compared to the consensus estimate of $7.62 million. Fuel Tech had a negative return on equity of 7.25% and a negative net margin of 11.15%.

Fuel Tech Stock Up 9.8%

Shares of NASDAQ FTEK traded up $0.14 during trading on Thursday, reaching $1.52. The company had a trading volume of 128,912 shares, compared to its average volume of 191,119. The company’s fifty day moving average price is $1.32 and its 200-day moving average price is $1.62. Fuel Tech has a 12 month low of $0.93 and a 12 month high of $3.65. The stock has a market cap of $47.20 million, a P/E ratio of -16.83 and a beta of 1.38.

Analyst Ratings Changes

A number of brokerages recently weighed in on FTEK. Wall Street Zen lowered Fuel Tech from a “buy” rating to a “hold” rating in a research report on Saturday, March 7th. Weiss Ratings lowered Fuel Tech from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Wednesday, April 29th. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the stock has a consensus rating of “Sell”.

Institutional Investors Weigh In On Fuel Tech

Institutional investors have recently made changes to their positions in the stock. Prelude Capital Management LLC bought a new stake in shares of Fuel Tech in the 3rd quarter valued at about $40,000. Virtu Financial LLC bought a new stake in shares of Fuel Tech in the 4th quarter valued at about $27,000. NewEdge Advisors LLC grew its position in shares of 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 valued at $53,000 after buying an additional 17,603 shares during the last quarter. Advisory Services Network LLC grew its position in shares of Fuel Tech by 44.2% in the 3rd quarter. Advisory Services Network LLC now owns 21,627 shares of the industrial products company’s stock valued at $65,000 after buying an additional 6,627 shares during the last quarter. Finally, Marshall Wace LLP bought a new stake in shares of Fuel Tech in the 2nd quarter valued at about $63,000. Institutional investors own 20.94% of the company’s stock.

About Fuel Tech

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.