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

Analysts at StockNews.com initiated 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 $1.01 on Friday. The company has a market capitalization of $31.02 million, a P/E ratio of -50.50 and a beta of 4.10. Fuel Tech has a 12 month low of $0.91 and a 12 month high of $1.34. The stock has a 50 day moving average of $1.03 and a 200-day moving average of $1.03.

Hedge Funds Weigh In On Fuel Tech

An institutional investor recently raised its position in Fuel Tech stock. Renaissance Technologies LLC increased its stake in shares of Fuel Tech, Inc. (NASDAQ:FTEK) by 5.4% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm 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 2.88% of Fuel Tech worth $936,000 as of its most recent filing with the SEC. Institutional investors and hedge funds 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.