StockNews.com started coverage on shares of Fuel Tech (NASDAQ:FTEK – Free Report) in a research report sent to investors on Thursday morning. The brokerage issued a hold rating on the industrial products company’s stock.
Fuel Tech Price Performance
Shares of NASDAQ:FTEK opened at $1.02 on Thursday. The stock has a market capitalization of $31.32 million, a P/E ratio of -51.00 and a beta of 4.10. The business has a 50-day moving average of $1.03 and a two-hundred day moving average of $1.03. Fuel Tech has a fifty-two week low of $0.91 and a fifty-two week high of $1.34.
Institutional Investors Weigh In On Fuel Tech
A hedge fund recently raised its stake in Fuel Tech stock. Renaissance Technologies LLC lifted its position in Fuel Tech, Inc. (NASDAQ:FTEK – Free Report) by 5.4% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 874,618 shares of the industrial products company’s stock after buying 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 filing with the Securities and Exchange Commission. 20.94% of the stock is owned by hedge funds and other 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.
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