Fuel Tech (NASDAQ:FTEK) Coverage Initiated at StockNews.com

StockNews.com initiated coverage on shares of Fuel Tech (NASDAQ:FTEK) in a research report released on Saturday morning. The firm issued a hold rating on the industrial products company’s stock.

Fuel Tech Stock Performance

Shares of NASDAQ FTEK opened at $1.01 on Friday. The firm’s 50 day moving average price is $1.01 and its 200-day moving average price is $1.02. The company has a market cap of $31.02 million, a PE ratio of -50.50 and a beta of 4.07. Fuel Tech has a 52-week low of $0.91 and a 52-week high of $1.34.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Virtu Financial LLC bought a new position in shares of Fuel Tech in the fourth quarter worth approximately $26,000. XTX Topco Ltd bought a new position in shares of Fuel Tech in the fourth quarter worth approximately $27,000. Millennium Management LLC lifted its stake in shares of Fuel Tech by 70.1% in the fourth quarter. Millennium Management LLC now owns 58,571 shares of the industrial products company’s stock worth $62,000 after buying an additional 24,129 shares in the last quarter. Peapod Lane Capital LLC bought a new position in Fuel Tech during the fourth quarter valued at approximately $1,027,000. Finally, Renaissance Technologies LLC lifted its position in Fuel Tech by 15.3% during the fourth quarter. Renaissance Technologies LLC now owns 1,039,609 shares of the industrial products company’s stock valued at $1,092,000 after purchasing an additional 138,169 shares during the period. Institutional investors 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.