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

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

Fuel Tech Stock Down 0.7 %

Shares of FTEK stock opened at $0.98 on Wednesday. Fuel Tech has a 12-month low of $0.91 and a 12-month high of $1.34. The company has a market capitalization of $30.03 million, a PE ratio of -48.90 and a beta of 4.10. The firm has a 50 day moving average price of $1.03 and a two-hundred day moving average price of $1.02.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Fuel Tech stock. Renaissance Technologies LLC boosted its stake in Fuel Tech, Inc. (NASDAQ:FTEK) by 5.4% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 874,618 shares of the industrial products company’s stock after purchasing an additional 44,512 shares during the quarter. Renaissance Technologies LLC owned about 2.88% of Fuel Tech worth $936,000 at the end of the most recent reporting period. 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.