Fuel Tech, Inc. (NASDAQ: FTEK) shares soared 85.28% as it gained +0.65 on Wednesday’s trading session. The company has revealed the 2020 financial results of the third quarter completed on September 30, 2020. It has reported consolidated revenue of $8.2 million as compared to the $6.5 million Q3 2019. It has recorded an increase of 26.4% in consolidated revenue.
Fuel Tech has revealed that its Gross Margin for the third Quarter 2020 was 72.4% of revenues in contrast with the 44.8% of revenues in Q3 2019. It has recorded the consolidated gross margin for Q3 2020 was 40.7%.
Furthermore, Fuel Tech has earlier disclosed that it has settled the matter with the insurance carrier. After the settlement, the company will receive $2.6 million in proceeds in the fourth quarter of 2020. It has reported that the company has generated a net income of $2.4 million, or $0.10 per share. Fuel Tech has experienced a loss of $(1.3) million, or $(0.05) per share from the current operations in Q3 2020.
Fuel Tech, Inc. (NASDAQ: FTEK) shares were trading up 85.28% at the time of writing on Wednesday. Fuel Tech, Inc. share price went from a low point around $0.30 to briefly over $1.49 in past 52 weeks, though shares have since pulled back to $1.41. FTEK market cap has remained high, hitting $18.90 million at the time of writing.
Looking at its profitability, it has a return on assets of -33.60%, return on equity of -42.30% and return on investment of -31.50%. It has a Gross Margin of 25.80%, an Operating Margin of -57.00%, and a Profit Margin of -54.90%. Turning our focus on its liquidity, it has a current ratio of 3.40. Likewise, its quick ratio is also 3.40.