Fuel Tech (NASDAQ:FTEK) Coverage Initiated by Analysts at StockNews.com

Investment analysts at StockNews.com initiated coverage on shares of Fuel Tech (NASDAQ:FTEK) in a research note issued on Sunday. The brokerage set a “hold” rating on the industrial products company’s stock.

Fuel Tech Price Performance

Shares of NASDAQ:FTEK opened at $0.97 on Friday. The business has a 50-day moving average of $1.00 and a two-hundred day moving average of $1.02. The firm has a market capitalization of $29.79 million, a PE ratio of -48.50 and a beta of 4.07. Fuel Tech has a 12 month low of $0.91 and a 12 month high of $1.34.

Institutional Investors Weigh In On Fuel Tech

Several institutional investors and hedge funds have recently modified their holdings of FTEK. Millennium Management LLC raised its holdings in shares of Fuel Tech by 70.1% during the 4th 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. XTX Topco Ltd purchased a new stake in Fuel Tech during the 4th quarter worth $27,000. Renaissance Technologies LLC increased its stake in Fuel Tech by 15.3% during the 4th quarter. Renaissance Technologies LLC now owns 1,039,609 shares of the industrial products company’s stock worth $1,092,000 after buying an additional 138,169 shares during the period. Virtu Financial LLC acquired a new position in Fuel Tech in the 4th quarter worth $26,000. Finally, Peapod Lane Capital LLC purchased a new position in Fuel Tech in the 4th quarter valued at about $1,027,000. 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.