Fuel Tech (NASDAQ:FTEK) Research Coverage Started at StockNews.com

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

Fuel Tech Price Performance

NASDAQ:FTEK opened at $0.99 on Monday. Fuel Tech has a 1 year low of $0.91 and a 1 year high of $1.34. The stock’s fifty day moving average price is $1.04 and its two-hundred day moving average price is $1.03. The company has a market cap of $30.47 million, a P/E ratio of -49.61 and a beta of 4.10.

Institutional Investors Weigh In On Fuel Tech

An institutional investor recently raised its position in Fuel Tech stock. Renaissance Technologies LLC boosted its position in shares of Fuel Tech, Inc. (NASDAQ:FTEK) by 5.4% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 874,618 shares of the industrial products company’s stock after acquiring an additional 44,512 shares during the period. Renaissance Technologies LLC owned 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.