Fuel Tech (NASDAQ:FTEK) Issues Earnings Results

Fuel Tech (NASDAQ:FTEK) released its quarterly earnings data on Tuesday. The industrial products company reported ($0.04) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.02), FiscalAI reports. The firm had revenue of $6.49 million during the quarter, compared to analysts’ expectations of $6.58 million. Fuel Tech had a negative net margin of 11.15% and a negative return on equity of 7.34%.

Fuel Tech Price Performance

Fuel Tech stock traded up $0.03 during mid-day trading on Tuesday, reaching $1.53. 212,745 shares of the company traded hands, compared to its average volume of 96,586. The firm’s 50 day moving average price is $1.60 and its 200 day moving average price is $1.45. The firm has a market capitalization of $47.69 million, a price-to-earnings ratio of -17.00 and a beta of 1.29. Fuel Tech has a 52-week low of $1.17 and a 52-week high of $3.65.

Analysts Set New Price Targets

FTEK has been the topic of several recent analyst reports. Zacks Research raised Fuel Tech from a “strong sell” rating to a “hold” rating in a research note on Monday, July 6th. Wall Street Zen lowered Fuel Tech from a “hold” rating to a “sell” rating in a research report on Saturday, May 9th. Finally, Weiss Ratings upgraded Fuel Tech from a “sell (e+)” rating to a “sell (d-)” rating in a report on Monday, June 15th. One equities research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Reduce”.

Institutional Investors Weigh In On Fuel Tech

Large investors have recently modified their holdings of the stock. Geode Capital Management LLC increased its position in shares of Fuel Tech by 3.6% during the second quarter. Geode Capital Management LLC now owns 517,658 shares of the industrial products company’s stock valued at $1,305,000 after buying an additional 17,766 shares during the period. Marshall Wace LLP purchased a new stake in Fuel Tech in the second quarter worth about $63,000. Vanguard Group Inc. lifted its holdings in Fuel Tech by 7.7% in the third quarter. Vanguard Group Inc. now owns 1,013,864 shares of the industrial products company’s stock worth $3,042,000 after buying an additional 72,895 shares during the period. Dimensional Fund Advisors LP bought a new stake in Fuel Tech during the 3rd quarter valued at approximately $163,000. Finally, Boothbay Fund Management LLC bought a new stake in Fuel Tech during the 3rd quarter valued at approximately $124,000. Institutional investors own 20.94% of the company’s stock.

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.