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

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

Fuel Tech Price Performance

FTEK stock opened at $1.07 on Monday. Fuel Tech has a 1 year low of $0.91 and a 1 year high of $1.34. The company has a market cap of $32.86 million, a P/E ratio of -53.50 and a beta of 4.13. The firm has a 50-day moving average of $1.02 and a 200 day moving average of $1.06.

Institutional Investors Weigh In On Fuel Tech

An institutional investor recently raised its position in Fuel Tech stock. Renaissance Technologies LLC lifted its position in shares of Fuel Tech, Inc. (NASDAQ:FTEK) by 5.4% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. 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 approximately 2.88% of Fuel Tech worth $936,000 as of its most recent filing with the Securities & Exchange Commission. Hedge funds and other institutional investors 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.