Fuel Tech (NASDAQ:FTEK) Now Covered by Analysts at StockNews.com

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

Fuel Tech Stock Down 2.9 %

FTEK opened at $1.02 on Wednesday. The stock has a market cap of $31.32 million, a P/E ratio of -52.50 and a beta of 4.10. Fuel Tech has a 12 month low of $0.91 and a 12 month high of $1.34. The company has a fifty day simple moving average of $1.03 and a 200 day simple moving average of $1.04.

Institutional Investors Weigh In On Fuel Tech

An institutional investor recently raised its position in Fuel Tech stock. Renaissance Technologies LLC boosted its stake in shares of Fuel Tech, Inc. (NASDAQ:FTEK) by 5.4% during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm 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 approximately 2.88% of Fuel Tech worth $936,000 as of its most recent filing with the SEC. 20.94% of the stock is currently owned by hedge funds and other 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.