Fuel Tech (NASDAQ:FTEK) Stock Rating Upgraded by Wall Street Zen

Fuel Tech (NASDAQ:FTEK) was upgraded by research analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a report released on Saturday.

Separately, Weiss Ratings restated a “sell (d-)” rating on shares of Fuel Tech in a research note on Friday, October 31st. One equities research analyst has rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $4.00.

Fuel Tech Price Performance

NASDAQ:FTEK opened at $1.69 on Friday. The company has a market cap of $52.51 million, a P/E ratio of -18.78 and a beta of 0.91. The firm’s fifty day moving average price is $2.41 and its two-hundred day moving average price is $2.54. Fuel Tech has a one year low of $0.87 and a one year high of $3.65.

Fuel Tech (NASDAQ:FTEK) last announced its earnings results on Tuesday, November 4th. The industrial products company reported $0.01 EPS for the quarter, hitting the consensus estimate of $0.01. The business had revenue of $7.49 million during the quarter, compared to the consensus estimate of $9.39 million. Fuel Tech had a negative net margin of 12.17% and a negative return on equity of 7.29%. As a group, equities research analysts expect that Fuel Tech will post -0.03 earnings per share for the current year.

Hedge Funds Weigh In On Fuel Tech

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Geode Capital Management LLC grew its holdings in shares of Fuel Tech by 3.6% during the 2nd quarter. Geode Capital Management LLC now owns 517,658 shares of the industrial products company’s stock worth $1,305,000 after purchasing an additional 17,766 shares in the last quarter. Corsair Capital Management L.P. bought a new stake in Fuel Tech during the second quarter worth about $25,000. Marshall Wace LLP acquired a new stake in Fuel Tech during the second quarter worth about $63,000. Covestor Ltd acquired a new stake in Fuel Tech during the third quarter worth about $40,000. Finally, Vanguard Group Inc. increased its holdings in Fuel Tech by 7.7% in the 3rd quarter. Vanguard Group Inc. now owns 1,013,864 shares of the industrial products company’s stock valued at $3,042,000 after buying an additional 72,895 shares during the period. 20.94% of the stock is owned by institutional investors and hedge funds.

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.