Fuel Tech (NASDAQ:FTEK) Earns Hold Rating from Analysts at StockNews.com

StockNews.com began coverage on shares of Fuel Tech (NASDAQ:FTEK) in a report published on Tuesday morning. The brokerage issued a hold rating on the industrial products company’s stock.

Fuel Tech Stock Down 1.8 %

Shares of NASDAQ FTEK opened at $1.08 on Tuesday. The business’s 50 day moving average is $1.03 and its two-hundred day moving average is $1.05. The company has a market cap of $33.16 million, a P/E ratio of -53.50 and a beta of 4.13. Fuel Tech has a 12 month low of $0.91 and a 12 month high of $1.34.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Fuel Tech stock. Renaissance Technologies LLC lifted its position in shares of Fuel Tech, Inc. (NASDAQ:FTEK) by 5.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor 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 filing with the Securities and Exchange Commission. 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.