Fuel Tech, Inc. (NASDAQ:FTEK) Shares Bought by Renaissance Technologies LLC

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 and Exchange Commission (SEC). 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 SEC filing.

Separately, Essex Investment Management Co. LLC lifted its position in Fuel Tech by 42.6% in the first quarter. Essex Investment Management Co. LLC now owns 401,159 shares of the industrial products company’s stock valued at $485,000 after purchasing an additional 119,763 shares during the period. Institutional investors own 20.94% of the company’s stock.

Fuel Tech Price Performance

Shares of FTEK stock opened at $1.00 on Tuesday. The firm’s 50-day simple moving average is $1.01 and its 200-day simple moving average is $1.09. Fuel Tech, Inc. has a 1-year low of $0.91 and a 1-year high of $1.34. The firm has a market cap of $30.38 million, a P/E ratio of -33.33 and a beta of 4.13.

Fuel Tech (NASDAQ:FTEK) last posted its quarterly earnings data on Tuesday, August 6th. The industrial products company reported ($0.01) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.02) by $0.01. Fuel Tech had a negative return on equity of 0.50% and a negative net margin of 0.84%. The company had revenue of $7.04 million for the quarter, compared to the consensus estimate of $5.81 million. During the same period in the previous year, the business earned ($0.03) EPS. Analysts expect that Fuel Tech, Inc. will post -0.02 earnings per share for the current fiscal year.

Analyst Ratings Changes

Separately, StockNews.com began coverage on Fuel Tech in a report on Tuesday, October 1st. They issued a “hold” rating on the 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.