Fuel Tech Inc (NASDAQ:FTEK) Given Average Rating of “Strong Buy” by Analysts

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

Analysts have set a 12 month consensus target price of $1.75 for the company and are anticipating that the company will post ($0.03) EPS for the current quarter, according to Zacks. Zacks has also assigned Fuel Tech an industry rank of 152 out of 256 based on the ratings given to its competitors.

A number of research firms recently weighed in on FTEK. HC Wainwright reaffirmed a “buy” rating and set a $1.75 price target on shares of Fuel Tech in a research note on Thursday, August 15th. ValuEngine lowered Fuel Tech from a “buy” rating to a “hold” rating in a report on Monday, July 29th. Zacks Investment Research downgraded Fuel Tech from a “buy” rating to a “hold” rating in a research report on Friday, May 17th. Finally, TheStreet downgraded Fuel Tech from a “c-” rating to a “d+” rating in a research report on Thursday, July 25th.

Hedge funds have recently modified their holdings of the company. Acadian Asset Management LLC boosted its holdings in Fuel Tech by 1,347.4% in the 2nd quarter. Acadian Asset Management LLC now owns 155,583 shares of the industrial products company’s stock worth $218,000 after buying an additional 144,834 shares during the period. Renaissance Technologies LLC raised its position in Fuel Tech by 12.7% in the 2nd quarter. Renaissance Technologies LLC now owns 1,101,138 shares of the industrial products company’s stock worth $1,542,000 after purchasing an additional 123,892 shares during the period. Essex Investment Management Co. LLC raised its position in Fuel Tech by 39.8% in the 2nd quarter. Essex Investment Management Co. LLC now owns 424,305 shares of the industrial products company’s stock worth $594,000 after purchasing an additional 120,746 shares during the period. Vanguard Group Inc. grew its stake in Fuel Tech by 12.5% in the 2nd quarter. Vanguard Group Inc. now owns 497,934 shares of the industrial products company’s stock worth $697,000 after acquiring an additional 55,215 shares in the last quarter. Finally, BlackRock Inc. grew its stake in Fuel Tech by 9.3% in the 2nd quarter. BlackRock Inc. now owns 556,817 shares of the industrial products company’s stock worth $780,000 after acquiring an additional 47,552 shares in the last quarter. 25.91% of the stock is owned by hedge funds and other institutional investors.

Shares of NASDAQ FTEK remained flat at $$0.87 during midday trading on Wednesday. The stock had a trading volume of 71,475 shares, compared to its average volume of 189,883. The company has a market capitalization of $20.93 million, a price-to-earnings ratio of 14.84 and a beta of 1.15. The business has a 50 day moving average of $1.16 and a 200 day moving average of $1.58. The company has a quick ratio of 2.97, a current ratio of 3.00 and a debt-to-equity ratio of 0.03. Fuel Tech has a one year low of $0.81 and a one year high of $3.06.

Fuel Tech (NASDAQ:FTEK) last issued its quarterly earnings results on Tuesday, August 13th. The industrial products company reported ($0.02) earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of ($0.02). The company had revenue of $9.79 million for the quarter, compared to analyst estimates of $12.11 million. Fuel Tech had a positive return on equity of 4.35% and a negative net margin of 0.57%. As a group, equities analysts forecast that Fuel Tech will post -0.12 EPS for the current fiscal 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 systems; NOxOUT CASCADE and NOxOUT-SCR processes; ULTRA technology; ammonia injection grid and graduated straightening grid systems; and flue gas conditioning systems.

Further Reading: What are the benefits of momentum investing?

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.