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

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

Fuel Tech Trading Down 1.0 %

Shares of Fuel Tech stock opened at $1.03 on Friday. The firm’s 50 day moving average is $1.04 and its 200 day moving average is $1.03. The firm has a market capitalization of $31.63 million, a PE ratio of -51.50 and a beta of 4.10. Fuel Tech has a 1 year low of $0.91 and a 1 year high of $1.34.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Fuel Tech stock. Renaissance Technologies LLC lifted its position in shares of Fuel Tech, Inc. (NASDAQ:FTEK) by 5.4% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor 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 approximately 2.88% of Fuel Tech worth $936,000 at the end of the most recent reporting period. 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.