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

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

Fuel Tech Price Performance

FTEK opened at $1.08 on Tuesday. Fuel Tech has a fifty-two week low of $0.91 and a fifty-two week high of $1.34. The business has a 50-day moving average of $1.03 and a 200-day moving average of $1.05. The company has a market capitalization of $33.16 million, a PE ratio of -53.50 and a beta of 4.13.

Institutional Investors Weigh In On Fuel Tech

A hedge fund recently raised its stake in Fuel Tech stock. Renaissance Technologies LLC lifted its stake in Fuel Tech, Inc. (NASDAQ:FTEK) by 5.4% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor 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 2.88% of Fuel Tech worth $936,000 at the end of the most recent reporting period. 20.94% of the stock is currently owned by institutional investors.

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.