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

Equities research analysts at StockNews.com initiated coverage on shares of Fuel Tech (NASDAQ:FTEK) in a note issued to investors on Thursday. The firm set a “hold” rating on the industrial products company’s stock.

Fuel Tech Stock Up 1.0 %

Shares of NASDAQ:FTEK opened at $1.02 on Thursday. Fuel Tech has a 12-month low of $0.91 and a 12-month high of $1.34. The business has a 50 day moving average of $1.03 and a 200-day moving average of $1.04. The stock has a market cap of $31.32 million, a PE ratio of -51.00 and a beta of 4.10.

Institutional Trading of Fuel Tech

A hedge fund recently raised its stake in Fuel Tech stock. Renaissance Technologies LLC grew its stake in shares of Fuel Tech, Inc. (NASDAQ:FTEK) by 5.4% in the second quarter, according to the company in its most recent filing with the SEC. The firm owned 874,618 shares of the industrial products company’s stock after acquiring 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 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.