Fuel Tech (NASDAQ:FTEK) Releases Earnings Results
Fuel Tech (NASDAQ:FTEK) released its quarterly earnings data on Tuesday. The industrial products company reported ($0.02) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.02), Morningstar.com reports. Fuel Tech had a negative net margin of 2.04% and a positive return on equity of 0.37%. The firm had revenue of $9.79 million for the quarter, compared to analysts’ expectations of $12.11 million.
NASDAQ FTEK traded down $0.01 during trading on Thursday, reaching $0.93. 2,264 shares of the company’s stock traded hands, compared to its average volume of 69,195. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.64 and a current ratio of 2.70. The stock has a market cap of $25.15 million, a price-to-earnings ratio of 104.00 and a beta of 1.15. The company has a 50 day simple moving average of $1.23. Fuel Tech has a 12-month low of $0.92 and a 12-month high of $3.06.
Several large investors have recently added to or reduced their stakes in the company. Grace & White Inc. NY boosted its holdings in shares of Fuel Tech by 4.1% in the 1st quarter. Grace & White Inc. NY now owns 1,486,799 shares of the industrial products company’s stock valued at $2,483,000 after buying an additional 59,142 shares in the last quarter. Renaissance Technologies LLC lifted its stake in Fuel Tech by 12.7% during the 2nd 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 period. BlackRock Inc. lifted its stake in Fuel Tech by 9.3% during the 2nd 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 period. Vanguard Group Inc. increased its holdings in shares of Fuel Tech by 12.5% during the 2nd quarter. Vanguard Group Inc. now owns 497,934 shares of the industrial products company’s stock valued at $697,000 after purchasing an additional 55,215 shares in the last quarter. Finally, Essex Investment Management Co. LLC increased its holdings in shares of Fuel Tech by 39.8% during the 2nd quarter. Essex Investment Management Co. LLC now owns 424,305 shares of the industrial products company’s stock valued at $594,000 after purchasing an additional 120,746 shares in the last quarter. Institutional investors and hedge funds own 24.23% of the company’s stock.
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.
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