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

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

Fuel Tech Trading Up 3.0 %

Shares of NASDAQ FTEK opened at $1.04 on Tuesday. Fuel Tech has a 12-month low of $0.91 and a 12-month high of $1.34. The stock has a 50 day simple moving average of $1.04 and a 200-day simple moving average of $1.03. The company has a market cap of $31.94 million, a PE ratio of -52.00 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 boosted its holdings in shares of Fuel Tech, Inc. (NASDAQ:FTEK) by 5.4% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund 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 approximately 2.88% of Fuel Tech worth $936,000 at the end of the most recent quarter. 20.94% of the stock is currently owned by institutional investors.

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.