Fuel Tech (NASDAQ:FTEK) Now Covered by StockNews.com

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

Fuel Tech Stock Down 2.9 %

Shares of Fuel Tech stock opened at $1.02 on Friday. The stock has a market cap of $31.32 million, a price-to-earnings ratio of -51.00 and a beta of 4.10. Fuel Tech has a twelve month low of $0.91 and a twelve month high of $1.34. The company’s fifty day moving average is $1.04 and its 200 day moving average is $1.03.

Hedge Funds Weigh In On Fuel Tech

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

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.