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

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

Fuel Tech Trading Up 3.0 %

Shares of Fuel Tech stock opened at $1.04 on Friday. The company has a 50 day moving average of $1.03 and a 200-day moving average of $1.03. The company has a market cap of $31.94 million, a PE ratio of -52.00 and a beta of 4.10. Fuel Tech has a 1-year low of $0.91 and a 1-year high of $1.34.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Fuel Tech stock. Renaissance Technologies LLC lifted its position in shares of Fuel Tech, Inc. (NASDAQ:FTEK) by 5.4% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 874,618 shares of the industrial products company’s stock after purchasing an additional 44,512 shares during the period. Renaissance Technologies LLC owned about 2.88% of Fuel Tech worth $936,000 as of its most recent filing with the Securities and Exchange Commission. 20.94% of the stock is currently 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.