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

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

Fuel Tech Stock Performance

Shares of NASDAQ:FTEK opened at $1.03 on Friday. The firm has a fifty day moving average price of $1.01 and a 200 day moving average price of $1.02. Fuel Tech has a fifty-two week low of $0.91 and a fifty-two week high of $1.34. The firm has a market cap of $31.63 million, a price-to-earnings ratio of -51.50 and a beta of 4.07.

Hedge Funds Weigh In On Fuel Tech

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Millennium Management LLC raised its stake in 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 purchasing an additional 24,129 shares in the last quarter. Virtu Financial LLC purchased a new stake in Fuel Tech during the fourth quarter valued at $26,000. XTX Topco Ltd purchased a new stake in Fuel Tech during the fourth quarter valued at $27,000. Renaissance Technologies LLC raised its stake in 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 purchasing an additional 138,169 shares in the last quarter. Finally, Peapod Lane Capital LLC purchased a new stake in Fuel Tech during the fourth quarter valued at $1,027,000. Institutional investors own 20.94% of the company’s stock.

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.