Fuel Tech (NASDAQ:FTEK) Coverage Initiated at StockNews.com

Equities research analysts at StockNews.com began coverage on shares of Fuel Tech (NASDAQ:FTEK) in a report released on Sunday. The firm set a “hold” rating on the industrial products company’s stock.

Fuel Tech Price Performance

NASDAQ FTEK opened at $0.99 on Friday. Fuel Tech has a 1 year low of $0.91 and a 1 year high of $1.34. The company has a market capitalization of $30.40 million, a PE ratio of -49.50 and a beta of 4.07. The company has a fifty day moving average of $1.00 and a two-hundred day moving average of $1.02.

Institutional Investors Weigh In On Fuel Tech

Institutional investors and hedge funds have recently made changes to their positions in the business. Virtu Financial LLC purchased a new stake in shares of Fuel Tech in the fourth quarter valued at about $26,000. XTX Topco Ltd purchased a new stake in shares of Fuel Tech in the fourth quarter valued at about $27,000. Millennium Management LLC raised its holdings in shares of Fuel Tech by 70.1% in the fourth quarter. Millennium Management LLC now owns 58,571 shares of the industrial products company’s stock valued at $62,000 after buying an additional 24,129 shares during the last quarter. Peapod Lane Capital LLC purchased a new stake in shares of Fuel Tech in the fourth quarter valued at about $1,027,000. Finally, Renaissance Technologies LLC raised its holdings in shares of Fuel Tech by 15.3% in the fourth 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. 20.94% of the stock is owned by hedge funds and other 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.