Fuel Tech FTEK Stock Forecast 2023

Fuel Tech FTEK Stock Forecast 2023: Latest Price

Article Coverage: Performance Summary, Latest Fuel Tech Stock News, Technical Analysis, Latest analysis video, Macros, Fundamentals and Analysts Price Target.

Fuel Tech, Inc. provides boiler optimization, efficiency improvement, and air pollution reduction and control solutions to utility and industrial customers worldwide. The company operates through two segments, Air Pollution Control Technology and FUEL CHEM Technology. This segment offers its FUEL CHEM program for plants operating in the electric utility, industrial, pulp and paper, waste-to-energy, and university and district heating markets; and the owners of boilers, furnaces, and other combustion units. The company was incorporated in 1987 and is headquartered in Warrenville, Illinois.

FTEK Stock Performance

  • 1 M: +15.7%
  • 6 M: +21.7%
  • 12 M: +9.3%

Fuel Tech FTEK Stock Forecast 2023: Latest News

Fuel Tech announced today the appointment of William (Bill) Decker as Vice President of Water and Wastewater Treatment Technologies, effective March 15, 2023. In this newly created position, Decker will lead the growth and development of Fuel Tech’s Dissolved Gas Infusion (DGITM) technology, including business development, sales and marketing, and new product development and commercialization.

Fuel Tech has proudly released the all-new NanoPRO, the latest and most advanced O2 conditioners in its one line-up.

The NanoPRO can condition and read five different models of wide band lambda O2 sensors: including the BOSCH LSU 4.2 (sensor, harness), BOSCH LSU 4.9 (harness), BOSCH LSU 5.2, NTK lab grade sensor (sensor, harness, and adapter, and NTK wideband o2 sensor.

The industry leader in performance engine management systems will continue as the title series sponsor of the NHRA Pro Mod Drag Racing Series for the 2023 season. The Fuel Tech NHRA Pro Mod Drag Racing Series presented by Type A Motorsports opens its season this weekend as part of the Amalie Motor Oil NHRA Gator Nationals at historic Gainesville Raceway. The series features 10 races in 2023 and the category will be featured on the NHRA on FOX broadcast at each of its events.

Fuel Tech FTEK Stock Forecast 2023: Technical Analysis

  • 52-Week Range: 1.020 – 1.830
  • Volume: 8,868,540
  • Average Vol.(3m): 190,638
  • Market Cap: 47.72M
  • EPS: -0.048
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When we look at the technical indicators, the stock appears to be fairly positive. The short-term period graph, when seen over a one-day period, still seems to be in the strongly buy zone and indicates a big breakout potential. The MA 50 and MA 200 are at 1.304 and 1.332, respectively, and appear to be in good shape.

The Williams %R is at -43.548 and the relative strength index’s value of 74.945 both indicate that the stock’s momentum oscillators are favorable.

The MACD (12, 26) and ADX (14) readings, which, at 0.004 and 33.16, respectively, imply a good purchase opportunity, further emphasize the trend’s positive aspects.

Read: Tesla Stock Forecast 2023

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Fuel Tech FTEK Stock Forecast 2023: Fundamentals

The 2023 season of the NHRA Pro Mod Drag Racing Series will continue to be sponsored by the market leader in performance engine management systems. This weekend, at the storied Gainesville Raceway, the Amalie Motor Oil NHRA Gator Nationals will serve as the season opener for the Fuel Tech NHRA Pro Mod Drag Racing Series sponsored by Type A Motorsports. In 2023, there will be ten races in the series, and each one will be covered by the category on the NHRA on FOX broadcast.

Looking at the figures for 2022, we can see that sales rose 11% to $26.9 million. Strong results in the Air Pollution Control business, where sales increased by 54% to $10.6 million as a consequence of new orders and the timing of project execution, were the main contributors to the improvement. Fuel Chem’s revenues fell by 6% to $16.3 million as a result of losing a significant client. Unfortunately for Fuel Tech, the operating loss grew as the Air Pollution Control business’ gross margin dropped from 49% to 35% as a result of supply chain expenses, product and project mix, and project mix. Fuel Chem’s segment’s gross margin stayed the same at 49%.

Looking at the financial sheet, we can see that as of December 2022, cash and cash equivalents had considerably reduced to $23.3 million. This is due to a decision to invest extra money. A total of $10 million was deposited into the company’s investment account in June 2022, and another $10 million was added in December of that same year. Fuel Tech held $9.17 million in US Treasury notes with maturities ranging from three to 36 months as of the end of 2022.

Due to its asset-light business model, Fuel Tech’s assets as of December were only $32.7 million in cash and investments or little over 89% of its market value. There are no obligations owed by the business.

Fuel Tech FTEK Stock Forecast 2023: Macros

Particulates and pollutants are eliminated using pollution control equipment, often referred to as emission control systems, by filtration, absorption, extraction, or a combination of these processes. Based on the needs and output of the facility, each unit is built to provide dependable, energy-efficient operation.  The most popular air scrubber, wet scrubber, mist collector, and electrostatic precipitator types are used in industrial settings.

Over the following five years, it is anticipated that the market for air pollution control equipment would expand at a remarkable rate, reaching US$10.4 billion in 2025. Due to lax emission control legislation and low pollution awareness, the rising industrial production caused by the expanding global economy is contributing to an increase in pollution, particularly in emerging nations.

But in recent years, major economies have prioritized putting into place strict emission control regulations in order to enhance air quality. Additionally, there has been an increase in safety and health consciousness, which is fueling demand for air pollution management technology. The market is broken down into categories based on Type (Electrostatic Precipitators, Flue Gas Desulfurization (FGD) and Scrubbers, Selective Catalytic Reduction (SCR), Fabric Filters, and Others), Application (Power Generation Industry, Cement Industry, Chemical Industry, Iron and Steel Industry, Other Applications), and Geography (North America, Asia-Pacific, Europe, South America, and Middle-East and Africa).

Fuel Tech FTEK Stock Analysts Target

The analysts offering 12-month price forecasts for Fuel Tech Inc have a median target of 4.00, with a high estimate of 4.00 and a low estimate of 4.00. The median estimate represents a +159.74% increase from the last price of 1.54.

Note: Crowdwisdom360 collates Predictions and data from all over the net and has no in-house view on the likely trends in the Stocks or Crypto Coins. Please consult a registered investment advisor to guide you on your financial decisions.

Fuel Tech FTEK Stock Forecast 2023