Fuel Tech (NASDAQ:FTEK) Now Covered by Analysts at StockNews.com

StockNews.com initiated coverage on shares of Fuel Tech (NASDAQ:FTEK) in a research report report published on Sunday. The brokerage issued a hold rating on the industrial products company’s stock.

Fuel Tech Stock Performance

Shares of NASDAQ FTEK opened at $1.03 on Friday. The stock has a market cap of $31.63 million, a price-to-earnings ratio of -51.50 and a beta of 4.10. Fuel Tech has a fifty-two week low of $0.91 and a fifty-two week high of $1.34. The firm’s 50-day simple moving average is $1.04 and its 200 day simple moving average is $1.03.

Institutional Investors Weigh In On Fuel Tech

A hedge fund recently raised its stake in Fuel Tech stock. Renaissance Technologies LLC raised 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. The institutional investor 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 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.

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.