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

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

Fuel Tech Stock Down 1.5 %

Shares of FTEK opened at $0.99 on Wednesday. The company has a market cap of $30.25 million, a P/E ratio of -49.26 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 moving average price is $1.03 and its 200 day moving average price is $1.02.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Fuel Tech stock. Renaissance Technologies LLC grew its stake in Fuel Tech, Inc. (NASDAQ:FTEK) by 5.4% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 874,618 shares of the industrial products company’s stock after buying 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 SEC. Institutional investors 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.