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

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

Fuel Tech Trading Up 9.5 %

Shares of Fuel Tech stock opened at $1.15 on Monday. The company has a market cap of $35.32 million, a P/E ratio of -57.50 and a beta of 4.13. The business has a 50-day moving average price of $1.03 and a two-hundred day moving average price of $1.06. Fuel Tech has a 1-year low of $0.91 and a 1-year high of $1.34.

Institutional Trading of 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 its most recent disclosure with the Securities and Exchange Commission. The institutional investor 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 as of its most recent filing with the Securities and Exchange Commission. Hedge funds and other 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.