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

StockNews.com assumed coverage on shares of Fuel Tech (NASDAQ:FTEK) in a research note published on Wednesday morning. The firm issued a hold rating on the industrial products company’s stock.

Fuel Tech Price Performance

NASDAQ FTEK opened at $1.05 on Wednesday. The stock has a market capitalization of $32.25 million, a price-to-earnings ratio of -51.50 and a beta of 4.10. Fuel Tech has a one year low of $0.91 and a one year high of $1.34. The business’s fifty day moving average is $1.03 and its 200-day moving average is $1.04.

Institutional Investors Weigh In On Fuel Tech

A hedge fund recently raised its stake in Fuel Tech stock. Renaissance Technologies LLC grew its holdings in shares of Fuel Tech, Inc. (NASDAQ:FTEK) by 5.4% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 874,618 shares of the industrial products company’s stock after acquiring an additional 44,512 shares during the quarter. Renaissance Technologies LLC owned about 2.88% of Fuel Tech worth $936,000 at the end of the most recent quarter. 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.