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

Equities researchers at StockNews.com began coverage on shares of Fuel Tech (NASDAQ:FTEK) in a research note issued on Saturday. The brokerage set a “hold” rating on the industrial products company’s stock.

Fuel Tech Stock Performance

Shares of Fuel Tech stock opened at $1.07 on Friday. Fuel Tech has a 52-week low of $0.91 and a 52-week high of $1.34. The company has a fifty day moving average of $1.04 and a 200-day moving average of $1.03. The stock has a market capitalization of $32.86 million, a price-to-earnings ratio of -53.50 and a beta of 4.10.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Fuel Tech stock. Renaissance Technologies LLC boosted its stake in shares of Fuel Tech, Inc. (NASDAQ:FTEK) by 5.4% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 874,618 shares of the industrial products company’s stock after acquiring an additional 44,512 shares during the quarter. Renaissance Technologies LLC owned 2.88% of Fuel Tech worth $936,000 as of its most recent filing with the Securities and Exchange Commission (SEC). 20.94% of the stock is currently owned by 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.