Fuel Tech (NASDAQ:FTEK) Earns Hold Rating from Analysts at StockNews.com

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

Fuel Tech Stock Up 1.0 %

FTEK opened at $1.03 on Friday. The business has a 50 day moving average price of $1.01 and a two-hundred day moving average price of $1.02. The company has a market cap of $31.63 million, a PE ratio of -51.50 and a beta of 4.07. Fuel Tech has a 52 week low of $0.91 and a 52 week high of $1.34.

Institutional Investors Weigh In On Fuel Tech

A number of institutional investors and hedge funds have recently modified their holdings of the company. Millennium Management LLC grew its holdings in shares of Fuel Tech by 70.1% in the 4th quarter. Millennium Management LLC now owns 58,571 shares of the industrial products company’s stock worth $62,000 after acquiring an additional 24,129 shares during the period. XTX Topco Ltd acquired a new stake in shares of Fuel Tech in the 4th quarter worth approximately $27,000. Renaissance Technologies LLC grew its holdings in Fuel Tech by 15.3% during the 4th quarter. Renaissance Technologies LLC now owns 1,039,609 shares of the industrial products company’s stock valued at $1,092,000 after buying an additional 138,169 shares during the last quarter. Virtu Financial LLC acquired a new stake in Fuel Tech during the 4th quarter valued at $26,000. Finally, Peapod Lane Capital LLC acquired a new stake in Fuel Tech during the 4th quarter valued at $1,027,000. 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.