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

Equities researchers at StockNews.com assumed coverage on shares of Fuel Tech (NASDAQ:FTEK) in a research report issued to clients and investors on Sunday. The brokerage set a “hold” rating on the industrial products company’s stock.

Fuel Tech Stock Down 1.0 %

FTEK opened at $1.03 on Friday. The stock has a market capitalization of $31.63 million, a price-to-earnings ratio of -51.50 and a beta of 4.10. Fuel Tech has a twelve month low of $0.91 and a twelve month high of $1.34. The company has a 50-day simple moving average of $1.04 and a 200 day simple moving average of $1.03.

Institutional Trading of Fuel Tech

A hedge fund recently raised its stake in Fuel Tech stock. Renaissance Technologies LLC boosted its holdings in shares of Fuel Tech, Inc. (NASDAQ:FTEK) by 5.4% in the 2nd quarter, according to 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 about 2.88% of Fuel Tech worth $936,000 at the end of the most recent quarter. Hedge funds and other institutional investors 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.