Fuel Tech (NASDAQ:FTEK) Share Price Passes Above 200-Day Moving Average – What’s Next?

Fuel Tech, Inc. (NASDAQ:FTEK) crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $1.02 and traded as high as $1.10. Fuel Tech shares last traded at $1.03, with a volume of 175,691 shares.

Wall Street Analyst Weigh In

Separately, StockNews.com initiated coverage on Fuel Tech in a research report on Saturday. They set a “hold” rating for the company.

Fuel Tech Price Performance

The company’s 50 day simple moving average is $1.01 and its 200 day simple moving average is $1.02. The company has a market capitalization of $31.63 million, a PE ratio of -51.50 and a beta of 4.07.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Millennium Management LLC boosted its stake in Fuel Tech by 70.1% in the fourth quarter. Millennium Management LLC now owns 58,571 shares of the industrial products company’s stock valued at $62,000 after acquiring an additional 24,129 shares in the last quarter. XTX Topco Ltd purchased a new stake in shares of Fuel Tech in the 4th quarter valued at about $27,000. Renaissance Technologies LLC boosted its position in shares of Fuel Tech by 15.3% in the 4th 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 during the period. Virtu Financial LLC purchased a new position in Fuel Tech during the 4th quarter worth approximately $26,000. Finally, Peapod Lane Capital LLC purchased a new position in Fuel Tech during the 4th quarter worth approximately $1,027,000. 20.94% of the stock is owned by hedge funds and other institutional investors.

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.