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

Research analysts at StockNews.com initiated coverage on shares of Fuel Tech (NASDAQ:FTEK) in a research report issued to clients and investors on Sunday. The firm set a “hold” rating on the industrial products company’s stock.

Fuel Tech Price Performance

FTEK stock opened at $1.05 on Friday. The company’s 50-day moving average is $1.04 and its 200-day moving average is $1.03. The stock has a market capitalization of $32.25 million, a PE ratio of -52.50 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 stake in Fuel Tech, Inc. (NASDAQ:FTEK) by 5.4% in the second quarter, according to its most recent Form 13F 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 approximately 2.88% of Fuel Tech worth $936,000 at the end of the most recent reporting period. 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.