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

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

Fuel Tech Stock Performance

Shares of NASDAQ:FTEK opened at $1.10 on Tuesday. Fuel Tech has a one year low of $0.91 and a one year high of $1.34. The company has a 50-day simple moving average of $1.03 and a 200-day simple moving average of $1.05. The stock has a market capitalization of $33.78 million, a price-to-earnings ratio of -55.00 and a beta of 4.13.

Hedge Funds Weigh In On Fuel Tech

An institutional investor recently raised its position in Fuel Tech stock. Renaissance Technologies LLC raised its holdings in Fuel Tech, Inc. (NASDAQ:FTEK) by 5.4% during the second quarter, according to its most recent filing with the Securities and 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 2.88% of Fuel Tech worth $936,000 as of its most recent filing with the Securities and Exchange Commission. 20.94% of the stock is owned by hedge funds and other 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.