StockNews.com Initiates Coverage on Fuel Tech (NASDAQ:FTEK)

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

Fuel Tech Trading Down 1.9 %

Shares of FTEK opened at $1.05 on Friday. Fuel Tech has a 12 month low of $0.91 and a 12 month high of $1.34. The stock has a fifty day moving average price of $1.04 and a 200-day moving average price of $1.03. The firm has a market cap of $32.24 million, a PE ratio of -52.50 and a beta of 4.10.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Fuel Tech stock. Renaissance Technologies LLC lifted its position in Fuel Tech, Inc. (NASDAQ:FTEK) by 5.4% during 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 acquiring an additional 44,512 shares during the period. Renaissance Technologies LLC owned 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 owned by institutional investors.

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.