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

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

Fuel Tech Stock Up 9.5 %

FTEK opened at $1.15 on Monday. The company’s 50-day moving average price is $1.03 and its two-hundred day moving average price is $1.06. Fuel Tech has a twelve month low of $0.91 and a twelve month high of $1.34. The stock has a market cap of $35.32 million, a price-to-earnings ratio of -57.50 and a beta of 4.13.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Fuel Tech stock. Renaissance Technologies LLC lifted its stake in Fuel Tech, Inc. (NASDAQ:FTEK) by 5.4% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 874,618 shares of the industrial products company’s stock after acquiring an additional 44,512 shares during the period. Renaissance Technologies LLC owned approximately 2.88% of Fuel Tech worth $936,000 at the end of the most recent reporting period. Institutional investors and hedge funds 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.