Fuel Tech, Inc. (FTEK) Releases Quarterly Earnings Results
Fuel Tech, Inc. (NASDAQ:FTEK) released its quarterly earnings results on Monday. The industrial products company reported ($0.05) earnings per share (EPS) for the quarter, Morningstar.com reports. Fuel Tech had a negative net margin of 35.70% and a negative return on equity of 23.03%. The firm had revenue of $9.74 million during the quarter.
Fuel Tech (FTEK) traded down 1.15% during mid-day trading on Tuesday, hitting $0.86. The company’s stock had a trading volume of 16,094 shares. The firm’s market cap is $20.42 million. Fuel Tech has a 52-week low of $0.75 and a 52-week high of $1.51. The firm has a 50 day moving average of $0.84 and a 200-day moving average of $0.96.
Several institutional investors have recently made changes to their positions in FTEK. Renaissance Technologies LLC raised its position in shares of Fuel Tech by 13.2% in the fourth quarter. Renaissance Technologies LLC now owns 508,404 shares of the industrial products company’s stock valued at $585,000 after buying an additional 59,331 shares in the last quarter. Grace & White Inc. NY raised its position in shares of Fuel Tech by 2.6% in the second quarter. Grace & White Inc. NY now owns 1,266,762 shares of the industrial products company’s stock valued at $1,001,000 after buying an additional 32,072 shares in the last quarter. US Bancorp DE raised its position in shares of Fuel Tech by 65.3% in the first quarter. US Bancorp DE now owns 246,299 shares of the industrial products company’s stock valued at $251,000 after buying an additional 97,295 shares in the last quarter. Finally, GRT Capital Partners L.L.C. raised its position in shares of Fuel Tech by 134.7% in the second quarter. GRT Capital Partners L.L.C. now owns 243,417 shares of the industrial products company’s stock valued at $192,000 after buying an additional 139,701 shares in the last quarter. Hedge funds and other institutional investors own 25.15% of the company’s stock.
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About Fuel Tech
Fuel Tech, Inc is a technology company. The Company is engaged in the development, commercialization and application of technologies for air pollution control, process optimization, combustion efficiency and engineering services. It operates through three segments: Air Pollution Control technology, FUEL CHEM technology and Fuel Conversion.
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