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

StockNews.com started 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 0.5 %

Shares of NASDAQ FTEK opened at $1.00 on Tuesday. The company’s fifty day moving average is $1.04 and its 200-day moving average is $1.03. The stock has a market cap of $30.71 million, a price-to-earnings ratio of -50.00 and a beta of 4.10. Fuel Tech has a twelve month low of $0.91 and a twelve month high of $1.34.

Institutional Investors Weigh In On Fuel Tech

An institutional investor recently raised its position in Fuel Tech stock. Renaissance Technologies LLC raised its holdings in 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 fund owned 874,618 shares of the industrial products company’s stock after buying an additional 44,512 shares during the period. Renaissance Technologies LLC owned 2.88% of Fuel Tech worth $936,000 at the end of the most recent reporting period. 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.