Zacks: Fuel Tech Inc (FTEK) Given Consensus Rating of “Strong Buy” by Brokerages

Fuel Tech Inc (NASDAQ:FTEK) has been assigned an average broker rating score of 1.00 (Strong Buy) from the one analysts that provide coverage for the stock, Zacks Investment Research reports. One equities research analyst has rated the stock with a strong buy rating.

Brokers have set a 1-year consensus target price of $2.00 for the company, according to Zacks. Zacks has also given Fuel Tech an industry rank of 10 out of 255 based on the ratings given to related companies.

FTEK has been the topic of a number of recent analyst reports. Zacks Investment Research upgraded Fuel Tech from a “hold” rating to a “buy” rating and set a $1.50 target price on the stock in a research note on Friday, March 15th. HC Wainwright reiterated a “buy” rating and issued a $2.00 target price on shares of Fuel Tech in a research note on Monday, March 18th. Finally, ValuEngine lowered Fuel Tech from a “buy” rating to a “hold” rating in a research note on Wednesday, March 20th.

In other Fuel Tech news, Director James J. Markowsky sold 20,000 shares of the stock in a transaction on Friday, March 22nd. The stock was sold at an average price of $1.66, for a total value of $33,200.00. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 13.20% of the company’s stock.

An institutional investor recently raised its position in Fuel Tech stock. Perritt Capital Management Inc. lifted its position in shares of Fuel Tech Inc (NASDAQ:FTEK) by 22.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 481,397 shares of the industrial products company’s stock after buying an additional 88,972 shares during the quarter. Perritt Capital Management Inc. owned approximately 1.99% of Fuel Tech worth $573,000 at the end of the most recent quarter. Hedge funds and other institutional investors own 23.33% of the company’s stock.

NASDAQ:FTEK traded up $0.15 during midday trading on Thursday, hitting $2.58. 672,625 shares of the company traded hands, compared to its average volume of 203,849. Fuel Tech has a 12-month low of $0.96 and a 12-month high of $3.06.

Fuel Tech (NASDAQ:FTEK) last released its earnings results on Thursday, March 14th. The industrial products company reported $0.04 earnings per share for the quarter. Fuel Tech had a positive return on equity of 0.03% and a negative net margin of 0.05%. The business had revenue of $15.83 million for the quarter, compared to analyst estimates of $13.91 million. Sell-side analysts forecast that Fuel Tech will post 0.05 EPS for the current year.

Fuel Tech Company Profile

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.

Further Reading: Return On Assets

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