Fuel Tech (NASDAQ:FTEK) Lowered to Hold Rating by Wall Street Zen

Fuel Tech (NASDAQ:FTEK) was downgraded by analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a report issued on Saturday.

Separately, Weiss Ratings reissued a “sell (d-)” rating on shares of Fuel Tech in a report on Wednesday, January 28th. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat, Fuel Tech currently has an average rating of “Sell”.

Fuel Tech Stock Performance

NASDAQ:FTEK opened at $1.23 on Friday. Fuel Tech has a 52-week low of $0.91 and a 52-week high of $3.65. The firm has a market cap of $37.77 million, a price-to-earnings ratio of -17.57 and a beta of 1.05. The business’s fifty day moving average is $1.45 and its 200 day moving average is $2.13.

Fuel Tech (NASDAQ:FTEK) last issued its earnings results on Tuesday, March 3rd. The industrial products company reported ($0.04) EPS for the quarter, missing the consensus estimate of ($0.03) by ($0.01). Fuel Tech had a negative return on equity of 5.70% and a negative net margin of 8.71%.The company had revenue of $7.25 million during the quarter, compared to the consensus estimate of $7.47 million. Equities analysts predict that Fuel Tech will post -0.03 EPS for the current fiscal year.

Hedge Funds Weigh In On Fuel Tech

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Corsair Capital Management L.P. purchased a new position in Fuel Tech in the 2nd quarter worth approximately $25,000. Virtu Financial LLC purchased a new stake in shares of Fuel Tech during the fourth quarter valued at approximately $27,000. Covestor Ltd purchased a new stake in shares of Fuel Tech during the third quarter valued at approximately $40,000. Prelude Capital Management LLC bought a new position in shares of Fuel Tech in the third quarter worth approximately $40,000. Finally, NewEdge Advisors LLC grew its holdings in shares of Fuel Tech by 35,206.0% in 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. 20.94% of the stock is currently owned by institutional investors.

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.