Fuel Tech (NASDAQ:FTEK) Announces Earnings Results

Fuel Tech (NASDAQ:FTEK) released its earnings results on Tuesday, August 4th. The industrial products company reported ($0.04) EPS for the quarter, missing the consensus estimate of ($0.02) by ($0.02), FiscalAI reports. Fuel Tech had a negative net margin of 12.75% and a negative return on equity of 8.88%. The firm had revenue of $6.49 million during the quarter, compared to analyst estimates of $6.58 million.

Fuel Tech Price Performance

FTEK stock traded up $0.04 during midday trading on Wednesday, hitting $1.40. The company’s stock had a trading volume of 107,076 shares, compared to its average volume of 237,779. The company’s fifty day moving average price is $1.58 and its 200 day moving average price is $1.45. Fuel Tech has a twelve month low of $1.17 and a twelve month high of $3.65. The stock has a market capitalization of $43.55 million, a P/E ratio of -12.68 and a beta of 1.30.

Institutional Trading of Fuel Tech

Several institutional investors and hedge funds have recently added to or reduced their stakes in FTEK. Virtu Financial LLC acquired a new stake in Fuel Tech during the 4th quarter worth approximately $27,000. Beartown Capital Management LLC acquired a new position in Fuel Tech in the 4th quarter valued at $250,000. XTX Topco Ltd increased its position in Fuel Tech by 218.3% during the 4th quarter. XTX Topco Ltd now owns 178,303 shares of the industrial products company’s stock worth $278,000 after buying an additional 122,291 shares during the period. Marshall Wace LLP acquired a new stake in shares of Fuel Tech during the fourth quarter worth $126,000. Finally, State Street Corp lifted its holdings in shares of Fuel Tech by 7.1% during the fourth quarter. State Street Corp now owns 121,846 shares of the industrial products company’s stock worth $190,000 after buying an additional 8,100 shares in the last quarter. 20.94% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research firms have recently weighed in on FTEK. Weiss Ratings upgraded Fuel Tech from a “sell (e+)” rating to a “sell (d-)” rating in a report on Monday, June 15th. Wall Street Zen downgraded shares of Fuel Tech from a “hold” rating to a “sell” rating in a report on Saturday, May 9th. Finally, Zacks Research lowered shares of Fuel Tech from a “hold” rating to a “strong sell” rating in a research note on Friday, August 7th. Two research analysts have rated the stock with a Sell rating, According to data from MarketBeat.com, Fuel Tech presently has a consensus rating of “Sell”.

Fuel Tech Company Profile

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.