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

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

Fuel Tech Stock Performance

Shares of FTEK opened at $1.03 on Monday. The stock has a fifty day moving average price of $1.02 and a two-hundred day moving average price of $1.06. Fuel Tech has a 52-week low of $0.91 and a 52-week high of $1.34. The company has a market cap of $31.63 million, a price-to-earnings ratio of -51.50 and a beta of 4.13.

Hedge Funds Weigh In On Fuel Tech

A hedge fund recently raised its stake in Fuel Tech stock. Renaissance Technologies LLC raised its holdings in Fuel Tech, Inc. (NASDAQ:FTEK) by 5.4% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 874,618 shares of the industrial products company’s stock after purchasing an additional 44,512 shares during the quarter. Renaissance Technologies LLC owned approximately 2.88% of Fuel Tech worth $936,000 as of its most recent SEC filing. Hedge funds and other institutional investors own 20.94% of the company’s stock.

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.