Fuel Tech (NASDAQ:FTEK) Posts Quarterly Earnings Results, Hits Expectations
Fuel Tech (NASDAQ:FTEK) posted its earnings results on Tuesday. The industrial products company reported ($0.02) earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of ($0.02), Morningstar.com reports. Fuel Tech had a negative net margin of 2.04% and a positive return on equity of 0.37%. The business had revenue of $9.79 million for the quarter, compared to analyst estimates of $12.11 million.
NASDAQ:FTEK traded down $0.08 during mid-day trading on Wednesday, reaching $0.95. 1,500 shares of the company were exchanged, compared to its average volume of 192,731. The stock has a market capitalization of $24.91 million, a PE ratio of 107.00 and a beta of 1.15. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.64 and a current ratio of 2.70. Fuel Tech has a 12 month low of $0.98 and a 12 month high of $3.06. The firm’s fifty day moving average is $1.23.
Several hedge funds and other institutional investors have recently modified their holdings of FTEK. Acadian Asset Management LLC boosted its stake in shares of Fuel Tech by 1,347.4% in the 2nd quarter. Acadian Asset Management LLC now owns 155,583 shares of the industrial products company’s stock valued at $218,000 after purchasing an additional 144,834 shares during the last quarter. US Bancorp DE boosted its stake in shares of Fuel Tech by 13.3% in the 1st quarter. US Bancorp DE now owns 243,476 shares of the industrial products company’s stock valued at $407,000 after purchasing an additional 28,616 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of Fuel Tech by 12.5% in the 2nd quarter. Vanguard Group Inc. now owns 497,934 shares of the industrial products company’s stock valued at $697,000 after purchasing an additional 55,215 shares during the last quarter. BlackRock Inc. boosted its stake in shares of Fuel Tech by 9.3% in the 2nd quarter. BlackRock Inc. now owns 556,817 shares of the industrial products company’s stock valued at $780,000 after purchasing an additional 47,552 shares during the last quarter. Finally, Renaissance Technologies LLC boosted its stake in shares of Fuel Tech by 12.7% in the 2nd quarter. Renaissance Technologies LLC now owns 1,101,138 shares of the industrial products company’s stock valued at $1,542,000 after purchasing an additional 123,892 shares during the last quarter. 24.23% of the stock is currently owned by institutional investors.
About Fuel Tech
Fuel Tech, Inc provides boiler optimization, efficiency improvement, and air pollution reduction and control solutions to utility and industrial customers worldwide. It 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 by low and ultra-low NOx burners; over-fire air systems; NOxOUT and HERT selective non-catalytic reduction systems; advanced selective catalytic reduction systems; NOxOUT CASCADE and NOxOUT-SCR processes; ULTRA technology; ammonia injection grid and graduated straightening grid systems; and flue gas conditioning systems.
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