StockNews.com Begins Coverage on Fuel Tech (NASDAQ:FTEK)

StockNews.com began coverage on shares of Fuel Tech (NASDAQ:FTEK) in a research note issued on Wednesday. The brokerage set a “hold” rating on the industrial products company’s stock.

Fuel Tech Stock Performance

Shares of NASDAQ FTEK opened at $1.03 on Wednesday. The firm has a market cap of $31.63 million, a P/E ratio of -51.50 and a beta of 4.10. Fuel Tech has a 1 year low of $0.91 and a 1 year high of $1.34. The firm’s 50 day moving average price is $1.03 and its 200 day moving average price is $1.04.

Institutional Trading of Fuel Tech

An institutional investor recently raised its position in Fuel Tech stock. Renaissance Technologies LLC lifted its stake in shares of Fuel Tech, Inc. (NASDAQ:FTEK) by 5.4% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 874,618 shares of the industrial products company’s stock after acquiring an additional 44,512 shares during the period. Renaissance Technologies LLC owned 2.88% of Fuel Tech worth $936,000 as of its most recent SEC filing. 20.94% of the stock is owned by institutional investors.

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. 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.