Fuel Tech (NASDAQ:FTEK) Shares Cross Above 200-Day Moving Average – Here’s Why

Fuel Tech, Inc. (NASDAQ:FTEK)’s share price passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $1.02 and traded as high as $1.10. Fuel Tech shares last traded at $1.03, with a volume of 175,691 shares changing hands.

Wall Street Analyst Weigh In

Separately, StockNews.com began coverage on shares of Fuel Tech in a research note on Saturday. They issued a “hold” rating for the company.

Fuel Tech Trading Up 1.0 %

The business’s 50 day simple moving average is $1.01 and its two-hundred day simple moving average is $1.02. The firm has a market capitalization of $31.63 million, a P/E ratio of -51.50 and a beta of 4.07.

Institutional Investors Weigh In On Fuel Tech

Large investors have recently bought and sold shares of the business. Virtu Financial LLC bought a new position in Fuel Tech during the fourth quarter valued at $26,000. XTX Topco Ltd bought a new position in shares of Fuel Tech in the fourth quarter worth about $27,000. Millennium Management LLC grew its holdings in shares of Fuel Tech by 70.1% in the fourth quarter. Millennium Management LLC now owns 58,571 shares of the industrial products company’s stock worth $62,000 after purchasing an additional 24,129 shares during the last quarter. Peapod Lane Capital LLC purchased a new stake in Fuel Tech in the fourth quarter worth about $1,027,000. Finally, Renaissance Technologies LLC lifted its stake in Fuel Tech by 15.3% in the fourth 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 during the period. Institutional investors 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.