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

Analysts at StockNews.com initiated coverage on shares of Fuel Tech (NASDAQ:FTEK) in a research report issued on Tuesday. The firm set a “hold” rating on the industrial products company’s stock.

Fuel Tech Stock Performance

Fuel Tech stock opened at $1.10 on Tuesday. The company’s 50 day simple moving average is $1.03 and its 200-day simple moving average is $1.05. Fuel Tech has a 1 year low of $0.91 and a 1 year high of $1.34. The company has a market capitalization of $33.78 million, a price-to-earnings ratio of -55.00 and a beta of 4.13.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Fuel Tech stock. Renaissance Technologies LLC raised its position in Fuel Tech, Inc. (NASDAQ:FTEK) by 5.4% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund 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 approximately 2.88% of Fuel Tech worth $936,000 as of its most recent SEC filing. 20.94% of the stock is currently 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.