Investment analysts at StockNews.com began coverage on shares of Fuel Tech (NASDAQ:FTEK – Get Free Report) in a report released on Tuesday. The firm set a “hold” rating on the industrial products company’s stock.
Fuel Tech Trading Down 1.9 %
NASDAQ:FTEK opened at $1.06 on Tuesday. The firm has a market capitalization of $32.55 million, a PE ratio of -53.25 and a beta of 4.13. The firm’s fifty day simple moving average is $1.03 and its 200 day simple moving average is $1.05. Fuel Tech has a 1 year low of $0.91 and a 1 year high of $1.34.
Institutional Trading of Fuel Tech
An institutional investor recently raised its position in Fuel Tech stock. Renaissance Technologies LLC grew its stake in Fuel Tech, Inc. (NASDAQ:FTEK – Free Report) by 5.4% during the 2nd quarter, according to its most recent 13F filing 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 about 2.88% of Fuel Tech worth $936,000 as of its most recent SEC filing. Hedge funds and other institutional investors own 20.94% of the company’s stock.
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.
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