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

StockNews.com started coverage on shares of Fuel Tech (NASDAQ:FTEK) in a research note issued to investors on Sunday. The brokerage issued a hold rating on the industrial products company’s stock.

Fuel Tech Stock Up 1.0 %

FTEK opened at $1.03 on Friday. The company has a market capitalization of $31.63 million, a PE ratio of -51.50 and a beta of 4.13. The firm has a 50-day simple moving average of $1.02 and a two-hundred day simple moving average of $1.06. Fuel Tech has a 52 week low of $0.91 and a 52 week high of $1.34.

Institutional Trading of Fuel Tech

An institutional investor recently raised its position in Fuel Tech stock. Renaissance Technologies LLC lifted its holdings in Fuel Tech, Inc. (NASDAQ:FTEK) by 5.4% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund 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 at the end of the most recent reporting period. Institutional investors and hedge funds 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.