Fuel Tech (NASDAQ:FTEK) Issues Quarterly Earnings Results

Fuel Tech (NASDAQ:FTEK) announced its quarterly earnings results on Tuesday. The industrial products company reported ($0.04) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.01), FiscalAI reports. Fuel Tech had a negative return on equity of 5.66% and a negative net margin of 8.71%.The business had revenue of $7.25 million for the quarter, compared to analyst estimates of $7.47 million.

Fuel Tech Trading Down 10.1%

Shares of Fuel Tech stock opened at $1.24 on Thursday. Fuel Tech has a 52 week low of $0.87 and a 52 week high of $3.65. The stock has a market cap of $38.53 million, a PE ratio of -17.71 and a beta of 1.05. The company’s 50-day moving average price is $1.46 and its two-hundred day moving average price is $2.15.

Hedge Funds Weigh In On Fuel Tech

Several hedge funds have recently made changes to their positions in FTEK. Advisory Services Network LLC lifted its stake in Fuel Tech by 44.2% during the third quarter. Advisory Services Network LLC now owns 21,627 shares of the industrial products company’s stock valued at $65,000 after purchasing an additional 6,627 shares during the last quarter. State Street Corp increased its holdings in shares of Fuel Tech by 7.1% in the fourth quarter. State Street Corp now owns 121,846 shares of the industrial products company’s stock valued at $190,000 after buying an additional 8,100 shares in the last quarter. Group One Trading LLC lifted its position in shares of Fuel Tech by 26.1% during the 4th quarter. Group One Trading LLC now owns 42,509 shares of the industrial products company’s stock valued at $66,000 after acquiring an additional 8,803 shares during the last quarter. Prelude Capital Management LLC bought a new stake in shares of Fuel Tech during the 3rd quarter worth $40,000. Finally, Virtu Financial LLC acquired a new position in shares of Fuel Tech in the 4th quarter worth $27,000. Institutional investors and hedge funds own 20.94% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. Wall Street Zen upgraded shares of Fuel Tech from a “hold” rating to a “buy” rating in a research note on Saturday, December 6th. Weiss Ratings restated a “sell (d-)” rating on shares of Fuel Tech in a research report on Wednesday, January 28th. One research analyst has rated the stock with a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $4.00.

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.