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

Stock analysts at StockNews.com started coverage on shares of Fuel Tech (NASDAQ:FTEK) in a report released on Thursday. The brokerage set a “hold” rating on the industrial products company’s stock.

Fuel Tech Stock Performance

Shares of FTEK opened at $1.02 on Thursday. The firm has a market cap of $31.32 million, a PE ratio of -51.00 and a beta of 4.10. The firm’s 50 day moving average price is $1.03 and its 200 day moving average price is $1.04. Fuel Tech has a twelve month low of $0.91 and a twelve month high of $1.34.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Fuel Tech stock. Renaissance Technologies LLC boosted its holdings in shares of Fuel Tech, Inc. (NASDAQ:FTEK) by 5.4% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 874,618 shares of the industrial products company’s stock after buying an additional 44,512 shares during the period. Renaissance Technologies LLC owned about 2.88% of Fuel Tech worth $936,000 as of its most recent SEC filing. 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.