Fuel Tech (NASDAQ:FTEK) Earns Hold Rating from Analysts at StockNews.com

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

Fuel Tech Stock Performance

FTEK stock opened at $1.07 on Friday. The firm’s 50-day moving average price is $1.04 and its two-hundred day moving average price is $1.03. The stock has a market capitalization of $32.86 million, a price-to-earnings ratio of -53.50 and a beta of 4.10. Fuel Tech has a 12-month low of $0.91 and a 12-month high of $1.34.

Hedge Funds Weigh In On Fuel Tech

An institutional investor recently raised its position in Fuel Tech stock. Renaissance Technologies LLC lifted its stake in Fuel Tech, Inc. (NASDAQ:FTEK) by 5.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 874,618 shares of the industrial products company’s stock after purchasing 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 currently owned by institutional investors and hedge funds.

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.