Fuel Tech (NASDAQ:FTEK) Upgraded at Zacks Investment Research

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

According to Zacks, “Fuel Tech is a leading technology company engaged in the worldwide development, commercialization and application of state-of-the-art proprietary technologies for air pollution control, process optimization, and advanced engineering services. These technologies enable customers to produce both energy and processed materials in a cost-effective and environmentally sustainable manner. The Company’s nitrogen oxide reduction technologies include the NOxOUT, NOxOUT CASCADE, NOxOUT ULTRA, Rich Reagent Injection and NOxOUT-SCR processes. These technologies have established Fuel Tech as a leader in post-combustion NOx control systems, with installations on worldwide, where coal, municipal waste, biomass, and other fuels are utilized. The Company’s FUEL CHEM technology revolves around the unique application of chemicals to improve the efficiency and reliability of combustion units by controlling slagging, fouling, corrosion and opacity. “

Separately, ValuEngine downgraded Fuel Tech from a “buy” rating to a “hold” rating in a report on Tuesday, December 10th.

Shares of NASDAQ:FTEK traded down $0.01 during trading on Wednesday, hitting $0.91. The company had a trading volume of 47,700 shares, compared to its average volume of 32,590. Fuel Tech has a one year low of $0.80 and a one year high of $3.06. The company has a fifty day simple moving average of $0.92 and a two-hundred day simple moving average of $1.01. The company has a debt-to-equity ratio of 0.02, a current ratio of 4.32 and a quick ratio of 4.27.

Fuel Tech (NASDAQ:FTEK) last posted its quarterly earnings data on Wednesday, November 13th. The industrial products company reported ($0.05) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.03) by ($0.02). The company had revenue of $6.45 million during the quarter, compared to the consensus estimate of $10.22 million. Fuel Tech had a negative net margin of 6.20% and a negative return on equity of 2.19%. Equities analysts forecast that Fuel Tech will post -0.12 EPS for the current year.

Several hedge funds and other institutional investors have recently modified their holdings of FTEK. River & Mercantile Asset Management LLP purchased a new stake in shares of Fuel Tech in the second quarter worth approximately $594,000. California Public Employees Retirement System raised its holdings in shares of Fuel Tech by 5.8% in the third quarter. California Public Employees Retirement System now owns 668,420 shares of the industrial products company’s stock worth $666,000 after buying an additional 36,600 shares during the period. Vanguard Group Inc. raised its holdings in shares of Fuel Tech by 12.5% in the second quarter. Vanguard Group Inc. now owns 497,934 shares of the industrial products company’s stock worth $697,000 after buying an additional 55,215 shares during the period. BlackRock Inc. raised its holdings in shares of Fuel Tech by 9.3% in the second quarter. BlackRock Inc. now owns 556,817 shares of the industrial products company’s stock worth $780,000 after buying an additional 47,552 shares during the period. Finally, Renaissance Technologies LLC raised its holdings in shares of Fuel Tech by 12.7% in the second quarter. Renaissance Technologies LLC now owns 1,101,138 shares of the industrial products company’s stock worth $1,542,000 after buying an additional 123,892 shares during the period. Hedge funds and other institutional investors own 26.03% 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.

Featured Story: How does the Beige Book influence monetary policy?

Get a free copy of the Zacks research report on Fuel Tech (FTEK)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Fuel Tech Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Fuel Tech and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News