Fuel Tech (NASDAQ:FTEK) Earns Hold Rating from Analysts at StockNews.com

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

Fuel Tech Trading Down 1.9 %

Shares of NASDAQ:FTEK opened at $1.01 on Friday. The company has a market cap of $31.02 million, a price-to-earnings ratio of -50.50 and a beta of 4.07. The company has a 50-day moving average price of $1.01 and a 200-day moving average price of $1.02. Fuel Tech has a 12 month low of $0.91 and a 12 month high of $1.34.

Hedge Funds Weigh In On Fuel Tech

Hedge funds and other institutional investors have recently modified their holdings of the stock. Virtu Financial LLC purchased a new position in shares of Fuel Tech during the fourth quarter valued at about $26,000. XTX Topco Ltd purchased a new position in shares of Fuel Tech during the fourth quarter valued at about $27,000. Millennium Management LLC increased its position in shares of Fuel Tech by 70.1% during the fourth quarter. Millennium Management LLC now owns 58,571 shares of the industrial products company’s stock valued at $62,000 after buying an additional 24,129 shares during the period. Peapod Lane Capital LLC purchased a new position in shares of Fuel Tech during the fourth quarter valued at about $1,027,000. Finally, Renaissance Technologies LLC increased its position in shares of Fuel Tech by 15.3% during the fourth quarter. Renaissance Technologies LLC now owns 1,039,609 shares of the industrial products company’s stock valued at $1,092,000 after buying an additional 138,169 shares during the period. Hedge funds and other 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.