Fuel Tech (NASDAQ:FTEK) Stock Rating Upgraded by Zacks Research

Fuel Tech (NASDAQ:FTEK) was upgraded by equities researchers at Zacks Research from a “strong sell” rating to a “hold” rating in a report issued on Monday,Zacks.com reports.

Several other equities analysts have also commented on FTEK. 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 lowered shares of Fuel Tech from a “hold” rating to a “sell” rating in a research note on Saturday, May 9th. One research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Fuel Tech currently has an average rating of “Reduce”.

Fuel Tech Price Performance

Shares of NASDAQ:FTEK opened at $1.78 on Monday. The business’s 50-day moving average is $1.58 and its 200 day moving average is $1.46. Fuel Tech has a 1 year low of $1.17 and a 1 year high of $3.65. The firm has a market capitalization of $55.48 million, a P/E ratio of -19.78 and a beta of 1.24.

Fuel Tech (NASDAQ:FTEK) last issued its quarterly earnings results on Tuesday, May 5th. The industrial products company reported ($0.04) earnings per share for the quarter. Fuel Tech had a negative return on equity of 7.34% and a negative net margin of 11.15%.The business had revenue of $6.08 million during the quarter, compared to analyst estimates of $7.62 million. On average, analysts expect that Fuel Tech will post -0.12 EPS for the current year.

Institutional Trading of Fuel Tech

Institutional investors and hedge funds have recently bought and sold shares of the business. Virtu Financial LLC purchased a new stake in shares of Fuel Tech in the 4th quarter valued at $27,000. Prelude Capital Management LLC purchased a new position in shares of Fuel Tech during the third quarter worth $40,000. NewEdge Advisors LLC raised its holdings in shares of Fuel Tech by 35,206.0% during the third 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 last quarter. Marshall Wace LLP acquired a new position in Fuel Tech during the second quarter valued at $63,000. Finally, Advisory Services Network LLC lifted its position 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 period. 20.94% of the stock is currently owned by institutional investors and hedge funds.

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.