Fuel Tech (NASDAQ:FTEK) Now Covered by Analysts at StockNews.com

StockNews.com began coverage on shares of Fuel Tech (NASDAQ:FTEK) in a research report report published on Tuesday morning. The brokerage issued a hold rating on the industrial products company’s stock.

Fuel Tech Stock Up 0.9 %

Shares of FTEK opened at $1.07 on Tuesday. Fuel Tech has a 12-month low of $0.91 and a 12-month high of $1.34. The business has a 50-day simple moving average of $1.03 and a two-hundred day simple moving average of $1.05. The stock has a market cap of $32.86 million, a PE ratio of -53.50 and a beta of 4.13.

Hedge Funds Weigh In On Fuel Tech

An institutional investor recently raised its position in Fuel Tech stock. Renaissance Technologies LLC raised its stake in Fuel Tech, Inc. (NASDAQ:FTEK) by 5.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund 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 about 2.88% of Fuel Tech worth $936,000 as of its most recent SEC filing. 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.