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

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

Fuel Tech Price Performance

Shares of Fuel Tech stock opened at $1.07 on Friday. Fuel Tech has a 12-month low of $0.91 and a 12-month high of $1.34. The company has a market capitalization of $32.86 million, a price-to-earnings ratio of -53.50 and a beta of 4.10. The firm’s 50-day moving average price is $1.04 and its two-hundred day moving average price is $1.03.

Hedge Funds Weigh In On Fuel Tech

An institutional investor recently raised its position in Fuel Tech stock. Renaissance Technologies LLC raised its holdings in Fuel Tech, Inc. (NASDAQ:FTEK) by 5.4% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund 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 about 2.88% of Fuel Tech worth $936,000 at the end of the most recent quarter. Institutional investors own 20.94% of the company’s stock.

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.