Fuel Tech (NASDAQ:FTEK) Coverage Initiated by Analysts at StockNews.com

StockNews.com assumed coverage on shares of Fuel Tech (NASDAQ:FTEK) in a report released on Monday. The brokerage set a “hold” rating on the industrial products company’s stock.

Fuel Tech Stock Performance

NASDAQ FTEK opened at $1.01 on Monday. The stock has a 50-day moving average of $1.04 and a 200 day moving average of $1.03. Fuel Tech has a one year low of $0.91 and a one year high of $1.34. The company has a market capitalization of $31.02 million, a price-to-earnings ratio of -50.50 and a beta of 4.10.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Fuel Tech stock. Renaissance Technologies LLC boosted its holdings in shares of Fuel Tech, Inc. (NASDAQ:FTEK) by 5.4% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 874,618 shares of the industrial products company’s stock after purchasing an additional 44,512 shares during the quarter. Renaissance Technologies LLC owned about 2.88% of Fuel Tech worth $936,000 as of its most recent SEC filing. Institutional investors and hedge funds own 20.94% 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. The company 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; 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.