StockNews.com Begins Coverage on Fuel Tech (NASDAQ:FTEK)

StockNews.com began coverage on shares of Fuel Tech (NASDAQ:FTEK) in a note issued to investors on Monday. The firm set a “hold” rating on the industrial products company’s stock.

Fuel Tech Stock Performance

Shares of FTEK stock opened at $0.99 on Monday. Fuel Tech has a fifty-two week low of $0.91 and a fifty-two week high of $1.34. The firm has a market capitalization of $30.35 million, a P/E ratio of -49.43 and a beta of 4.10. The stock’s fifty day moving average is $1.04 and its two-hundred day moving average is $1.03.

Institutional Trading of Fuel Tech

An institutional investor recently raised its position in Fuel Tech stock. Renaissance Technologies LLC grew its stake in Fuel Tech, Inc. (NASDAQ:FTEK) by 5.4% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor 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 approximately 2.88% of Fuel Tech worth $936,000 as of its most recent filing with the Securities and Exchange Commission (SEC). 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.