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

StockNews.com assumed coverage on shares of Fuel Tech (NASDAQ:FTEK) in a research report sent to investors on Monday morning. The brokerage issued a hold rating on the industrial products company’s stock.

Fuel Tech Stock Performance

Shares of FTEK stock opened at $1.05 on Monday. The stock has a 50 day moving average price of $1.03 and a 200 day moving average price of $1.06. Fuel Tech has a 52-week low of $0.91 and a 52-week high of $1.34. The firm has a market capitalization of $32.24 million, a P/E ratio of -52.50 and a beta of 4.13.

Institutional Trading of Fuel Tech

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