Analysts at StockNews.com started coverage on shares of Fuel Tech (NASDAQ:FTEK – Get Free Report) in a research note issued to investors on Tuesday. The brokerage set a “hold” rating on the industrial products company’s stock.
Fuel Tech Price Performance
FTEK opened at $1.04 on Tuesday. The stock has a market capitalization of $31.94 million, a price-to-earnings ratio of -52.00 and a beta of 4.10. The business has a 50-day moving average of $1.04 and a two-hundred day moving average of $1.03. Fuel Tech has a 12 month low of $0.91 and a 12 month high of $1.34.
Hedge Funds Weigh In On Fuel Tech
An institutional investor recently raised its position in Fuel Tech stock. Renaissance Technologies LLC grew its stake in shares of Fuel Tech, Inc. (NASDAQ:FTEK – Free Report) by 5.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (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 about 2.88% of Fuel Tech worth $936,000 at the end of the most recent quarter. 20.94% of the stock is owned by institutional investors and hedge funds.
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.
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