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

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

Fuel Tech Stock Performance

FTEK opened at $0.97 on Friday. Fuel Tech has a one year low of $0.91 and a one year high of $1.34. The stock has a market capitalization of $29.79 million, a P/E ratio of -48.50 and a beta of 4.07. The business’s 50-day simple moving average is $1.00 and its 200-day simple moving average is $1.02.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Peapod Lane Capital LLC purchased a new position in shares of Fuel Tech during the fourth quarter worth about $1,027,000. Virtu Financial LLC acquired a new stake in Fuel Tech during the 4th quarter worth approximately $26,000. Renaissance Technologies LLC grew its stake in shares of Fuel Tech by 15.3% in 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 purchasing an additional 138,169 shares during the last quarter. XTX Topco Ltd acquired a new position in shares of Fuel Tech in the fourth quarter valued at approximately $27,000. Finally, Millennium Management LLC raised its stake in shares of Fuel Tech by 70.1% during the fourth quarter. Millennium Management LLC now owns 58,571 shares of the industrial products company’s stock worth $62,000 after purchasing an additional 24,129 shares during the last quarter. 20.94% of the stock is currently owned by institutional investors and hedge funds.

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.