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 published on Tuesday. The brokerage issued a hold rating on the industrial products company’s stock.

Fuel Tech Stock Down 1.9 %

NASDAQ FTEK opened at $1.06 on Tuesday. The stock’s 50-day simple moving average is $1.03 and its two-hundred day simple moving average is $1.05. Fuel Tech has a twelve month low of $0.91 and a twelve month high of $1.34. The company has a market capitalization of $32.55 million, a price-to-earnings ratio of -53.00 and a beta of 4.13.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Fuel Tech stock. Renaissance Technologies LLC raised its position in shares of Fuel Tech, Inc. (NASDAQ:FTEK) by 5.4% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm 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.