Fuel Tech (NASDAQ:FTEK) Coverage Initiated by Analysts at StockNews.com

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

Fuel Tech Price Performance

NASDAQ FTEK opened at $0.96 on Thursday. The firm has a market capitalization of $29.33 million, a P/E ratio of -47.75 and a beta of 4.07. Fuel Tech has a 1-year low of $0.91 and a 1-year high of $1.34. The business’s 50-day simple moving average is $1.02 and its 200-day simple moving average is $1.02.

Hedge Funds Weigh In On Fuel Tech

A hedge fund recently bought a new stake in Fuel Tech stock. Peapod Lane Capital LLC purchased a new position in shares of Fuel Tech, Inc. (NASDAQ:FTEK) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 977,674 shares of the industrial products company’s stock, valued at approximately $1,027,000. Peapod Lane Capital LLC owned approximately 3.18% of Fuel Tech as of its most recent filing with the Securities and Exchange Commission. 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.