Fuel Tech (NASDAQ:FTEK) Lowered to Strong Sell at Zacks Investment Research

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Zacks Investment Research cut shares of Fuel Tech (NASDAQ:FTEK) from a hold rating to a strong sell rating in a research report sent to investors on Monday, 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. “

A number of other analysts have also weighed in on FTEK. ValuEngine upgraded Fuel Tech from a hold rating to a buy rating in a research note on Friday, September 6th. TheStreet lowered Fuel Tech from a c- rating to a d+ rating in a research note on Thursday, July 25th. Finally, HC Wainwright restated a buy rating and issued a $1.75 target price on shares of Fuel Tech in a research note on Thursday, August 15th.

Shares of NASDAQ:FTEK traded up $0.03 during midday trading on Monday, reaching $0.98. The company’s stock had a trading volume of 43,847 shares, compared to its average volume of 154,581. Fuel Tech has a fifty-two week low of $0.80 and a fifty-two week high of $3.06. The company has a debt-to-equity ratio of 0.02, a quick ratio of 4.27 and a current ratio of 4.32. The business’s fifty day simple moving average is $0.99 and its 200-day simple moving average is $1.25.

Fuel Tech (NASDAQ:FTEK) last announced its earnings results on Wednesday, November 13th. The industrial products company reported ($0.05) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.03) by ($0.02). Fuel Tech had a negative net margin of 6.20% and a negative return on equity of 2.19%. The business had revenue of $6.45 million during the quarter, compared to analyst estimates of $10.22 million. On average, equities research analysts predict that Fuel Tech will post -0.05 EPS for the current fiscal year.

A number of institutional investors have recently bought and sold shares of FTEK. Acadian Asset Management LLC boosted its holdings in Fuel Tech by 1,347.4% in the second quarter. Acadian Asset Management LLC now owns 155,583 shares of the industrial products company’s stock valued at $218,000 after acquiring an additional 144,834 shares during the last quarter. Renaissance Technologies LLC boosted its holdings in 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 valued at $1,542,000 after acquiring an additional 123,892 shares during the last quarter. BlackRock Inc. boosted its holdings in Fuel Tech by 9.3% in the second quarter. BlackRock Inc. now owns 556,817 shares of the industrial products company’s stock valued at $780,000 after acquiring an additional 47,552 shares during the last quarter. Vanguard Group Inc. boosted its holdings in Fuel Tech by 12.5% in the second quarter. Vanguard Group Inc. now owns 497,934 shares of the industrial products company’s stock valued at $697,000 after acquiring an additional 55,215 shares during the last quarter. Finally, River & Mercantile Asset Management LLP bought a new position in Fuel Tech in the second quarter valued at about $594,000. Institutional investors and hedge funds own 26.12% 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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