Fuel Tech (NASDAQ:FTEK) announced its quarterly earnings results on Thursday. The industrial products company reported $0.04 earnings per share (EPS) for the quarter, Morningstar.com reports. Fuel Tech had a negative net margin of 3.94% and a negative return on equity of 1.24%. The firm had revenue of $15.83 million during the quarter, compared to the consensus estimate of $13.91 million.
FTEK traded up $0.09 during midday trading on Friday, hitting $1.40. The company had a trading volume of 301,056 shares, compared to its average volume of 44,070. The stock has a market capitalization of $31.66 million, a PE ratio of -7.78 and a beta of 0.56. Fuel Tech has a twelve month low of $0.96 and a twelve month high of $1.61.
A hedge fund recently raised its stake in Fuel Tech stock. Perritt Capital Management Inc. raised its stake in Fuel Tech Inc (NASDAQ:FTEK) by 22.7% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 481,397 shares of the industrial products company’s stock after acquiring an additional 88,972 shares during the quarter. Perritt Capital Management Inc. owned about 1.99% of Fuel Tech worth $573,000 as of its most recent filing with the Securities and Exchange Commission. 23.34% of the stock is owned by institutional investors and hedge funds.
Separately, HC Wainwright started coverage on shares of Fuel Tech in a report on Monday, December 10th. They set a “buy” rating and a $2.00 price target for the company.
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About Fuel Tech
Fuel Tech, Inc provides boiler optimization, efficiency improvement, and air pollution reduction and control solutions to utility and industrial customers worldwide. It 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 by low and ultra-low NOx burners; over-fire air systems; NOxOUT and HERT selective non-catalytic reduction systems; advanced selective catalytic reduction (SCR) systems; NOxOUT CASCADE and NOxOUT-SCR processes; ULTRA technology; ammonia injection grid and graduated straightening grid systems; and flue gas conditioning systems.
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