Posted by admin on Aug 15th, 2022
Equities research analysts at StockNews.com started coverage on shares of Fuel Tech (NASDAQ:FTEK – Get Rating) in a report released on Monday. The brokerage set a “hold” rating on the industrial products company’s stock.
Shares of FTEK opened at $1.40 on Monday. Fuel Tech has a 12-month low of $1.02 and a 12-month high of $2.50. The business’s fifty day moving average is $1.27 and its 200 day moving average is $1.29. The stock has a market cap of $42.41 million, a P/E ratio of -46.67 and a beta of 4.76.
A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Bank of America Corp DE increased its holdings in Fuel Tech by 33.2% in the 1st quarter. Bank of America Corp DE now owns 67,609 shares of the industrial products company’s stock worth $98,000 after acquiring an additional 16,851 shares during the last quarter. Advisor Group Holdings Inc. increased its stake in Fuel Tech by 98.6% in the 1st quarter. Advisor Group Holdings Inc. now owns 27,186 shares of the industrial products company’s stock worth $182,000 after purchasing an additional 13,500 shares during the period. Marquette Asset Management LLC increased its stake in Fuel Tech by 131.2% in the 1st quarter. Marquette Asset Management LLC now owns 126,079 shares of the industrial products company’s stock worth $183,000 after purchasing an additional 71,557 shares during the period. GSA Capital Partners LLP increased its stake in Fuel Tech by 54.2% in the 4th quarter. GSA Capital Partners LLP now owns 162,560 shares of the industrial products company’s stock worth $228,000 after purchasing an additional 57,131 shares during the period. Finally, US Bancorp DE increased its stake in Fuel Tech by 25.2% in the 1st quarter. US Bancorp DE now owns 304,776 shares of the industrial products company’s stock worth $442,000 after purchasing an additional 61,300 shares during the period. 18.69% of the stock is owned by hedge funds and other institutional investors.
Fuel Tech, Inc provides boiler optimization, efficiency improvement, and air pollution reduction and control solutions to utility and industrial customers worldwide. It operates through two segments, Air Pollution Control Technology and FUEL CHEM Technology. 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; selective catalytic reduction systems comprising ammonia injection grid, and graduated straightening grid systems; I-NOx systems; ESP Processes and Services; ULTRA technology; and flue gas conditioning systems; and burner systems.
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