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

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

Fuel Tech Stock Performance

Shares of NASDAQ:FTEK opened at $1.04 on Friday. Fuel Tech has a 52-week low of $0.91 and a 52-week high of $1.34. The company has a market capitalization of $31.94 million, a P/E ratio of -52.00 and a beta of 4.10. The company has a 50-day simple moving average of $1.03 and a 200 day simple moving average of $1.03.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Fuel Tech stock. Renaissance Technologies LLC raised its stake in Fuel Tech, Inc. (NASDAQ:FTEK) by 5.4% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 874,618 shares of the industrial products company’s stock after purchasing an additional 44,512 shares during the period. Renaissance Technologies LLC owned 2.88% of Fuel Tech worth $936,000 at the end of the most recent quarter. 20.94% of the stock is currently owned by institutional investors and hedge funds.

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.