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

StockNews.com assumed coverage on shares of Fuel Tech (NASDAQ:FTEK) in a research note issued to investors on Friday morning. The firm issued a hold rating on the industrial products company’s stock.

Fuel Tech Stock Performance

Shares of NASDAQ:FTEK opened at $0.93 on Friday. Fuel Tech has a 1 year low of $0.91 and a 1 year high of $1.34. The stock has a market capitalization of $28.41 million, a P/E ratio of -46.25 and a beta of 4.07. The stock has a 50-day simple moving average of $1.01 and a 200-day simple moving average of $1.02.

Hedge Funds Weigh In On Fuel Tech

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. XTX Topco Ltd acquired a new position in Fuel Tech during the 4th quarter worth approximately $27,000. Renaissance Technologies LLC lifted its position in Fuel Tech by 15.3% during the 4th quarter. Renaissance Technologies LLC now owns 1,039,609 shares of the industrial products company’s stock worth $1,092,000 after acquiring an additional 138,169 shares in the last quarter. Virtu Financial LLC acquired a new position in Fuel Tech during the 4th quarter worth approximately $26,000. Finally, Peapod Lane Capital LLC acquired a new position in Fuel Tech during the 4th quarter worth approximately $1,027,000. 20.94% of the stock is owned by institutional investors and hedge funds.

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.