Fuel Tech Inc (NASDAQ:FTEK) has been given an average broker rating score of 1.00 (Strong Buy) from the one brokers that cover the company, Zacks Investment Research reports. One equities research analyst has rated the stock with a strong buy recommendation.
Brokers have set a twelve-month consensus target price of $2.00 for the company and are expecting that the company will post ($0.02) earnings per share for the current quarter, according to Zacks. Zacks has also assigned Fuel Tech an industry rank of 106 out of 256 based on the ratings given to related companies.
Several brokerages have recently commented on FTEK. Zacks Investment Research cut shares of Fuel Tech from a “buy” rating to a “hold” rating in a report on Friday, May 17th. ValuEngine cut shares of Fuel Tech from a “buy” rating to a “hold” rating in a report on Wednesday, March 20th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $2.00 target price on shares of Fuel Tech in a report on Monday, March 18th.
Fuel Tech stock traded down $0.01 during trading hours on Friday, hitting $1.51. The company had a trading volume of 109,322 shares, compared to its average volume of 240,700. The stock has a market cap of $36.53 million, a P/E ratio of 154.00 and a beta of 0.91. The company has a quick ratio of 2.64, a current ratio of 2.70 and a debt-to-equity ratio of 0.03. Fuel Tech has a one year low of $0.96 and a one year high of $3.06.
Fuel Tech (NASDAQ:FTEK) last released its quarterly earnings results on Thursday, March 14th. The industrial products company reported $0.04 earnings per share for the quarter. The firm had revenue of $15.83 million for the quarter, compared to analysts’ expectations of $13.91 million. Fuel Tech had a negative net margin of 2.04% and a positive return on equity of 0.37%. Equities analysts anticipate that Fuel Tech will post -0.01 earnings per share for the current fiscal year.
In other news, Director James J. Markowsky sold 20,000 shares of the firm’s stock in a transaction that occurred on Friday, March 22nd. The shares were sold at an average price of $1.66, for a total transaction of $33,200.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 13.20% of the stock is currently owned by company insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Cresset Asset Management LLC acquired a new stake in shares of Fuel Tech during the 1st quarter worth approximately $42,000. US Bancorp DE boosted its position in shares of Fuel Tech by 13.3% during the 1st quarter. US Bancorp DE now owns 243,476 shares of the industrial products company’s stock worth $407,000 after acquiring an additional 28,616 shares in the last quarter. Essex Investment Management Co. LLC boosted its position in shares of Fuel Tech by 10.1% during the 1st quarter. Essex Investment Management Co. LLC now owns 303,559 shares of the industrial products company’s stock worth $507,000 after acquiring an additional 27,963 shares in the last quarter. Perritt Capital Management Inc. boosted its position in shares of Fuel Tech by 22.7% during the 4th quarter. Perritt Capital Management Inc. now owns 481,397 shares of the industrial products company’s stock worth $573,000 after acquiring an additional 88,972 shares in the last quarter. Finally, Renaissance Technologies LLC boosted its position in shares of Fuel Tech by 15.7% during the 1st quarter. Renaissance Technologies LLC now owns 977,246 shares of the industrial products company’s stock worth $1,632,000 after acquiring an additional 132,609 shares in the last quarter. Institutional investors and hedge funds own 24.27% of the company’s stock.
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 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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