Fuel Tech (NASDAQ:FTEK) Upgraded to Hold at Zacks Research

Zacks Research upgraded shares of Fuel Tech (NASDAQ:FTEK) from a strong sell rating to a hold rating in a research note published on Monday morning,Zacks.com reports.

Several other equities analysts have also recently issued reports on the stock. Weiss Ratings upgraded shares of Fuel Tech from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Monday, June 15th. Wall Street Zen cut shares of Fuel Tech from a “hold” rating to a “sell” rating in a report on Saturday, May 9th. One analyst has rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Reduce”.

Fuel Tech Trading Down 3.8%

Shares of FTEK opened at $1.78 on Monday. Fuel Tech has a 12 month low of $1.17 and a 12 month high of $3.65. The business’s fifty day simple moving average is $1.58 and its two-hundred day simple moving average is $1.46. The company has a market cap of $55.48 million, a price-to-earnings ratio of -19.78 and a beta of 1.24.

Fuel Tech (NASDAQ:FTEK) last released its quarterly earnings data on Tuesday, May 5th. The industrial products company reported ($0.04) EPS for the quarter. Fuel Tech had a negative net margin of 11.15% and a negative return on equity of 7.34%. The business had revenue of $6.08 million for the quarter, compared to analysts’ expectations of $7.62 million. As a group, research analysts forecast that Fuel Tech will post -0.12 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Virtu Financial LLC purchased a new position in Fuel Tech in the fourth quarter worth about $27,000. Prelude Capital Management LLC purchased a new stake in shares of Fuel Tech during the 3rd quarter valued at about $40,000. NewEdge Advisors LLC lifted its stake in shares of Fuel Tech by 35,206.0% in the 3rd quarter. NewEdge Advisors LLC now owns 17,653 shares of the industrial products company’s stock worth $53,000 after purchasing an additional 17,603 shares during the period. Marshall Wace LLP bought a new position in shares of Fuel Tech in the 2nd quarter worth approximately $63,000. Finally, Advisory Services Network LLC boosted its holdings in shares of Fuel Tech by 44.2% in the third quarter. Advisory Services Network LLC now owns 21,627 shares of the industrial products company’s stock worth $65,000 after buying an additional 6,627 shares during the last quarter. 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.