StockNews.com Begins Coverage on Fuel Tech (NASDAQ:FTEK)

StockNews.com began coverage on shares of Fuel Tech (NASDAQ:FTEKFree Report) in a report published on Sunday morning. The firm issued a hold rating on the industrial products company’s stock.

Separately, HC Wainwright reiterated a buy rating and issued a $4.00 price objective on shares of Fuel Tech in a research report on Wednesday, March 13th.

Get Our Latest Stock Analysis on Fuel Tech

Fuel Tech Price Performance

FTEK stock opened at $1.23 on Friday. The business has a 50 day simple moving average of $1.13 and a 200-day simple moving average of $1.08. The firm has a market capitalization of $37.38 million, a PE ratio of -24.60 and a beta of 4.34. Fuel Tech has a 1 year low of $0.96 and a 1 year high of $1.83.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Grace & White Inc. NY boosted its position in shares of Fuel Tech by 6.9% during the fourth quarter. Grace & White Inc. NY now owns 1,859,922 shares of the industrial products company’s stock worth $1,953,000 after buying an additional 120,527 shares during the period. Renaissance Technologies LLC raised its stake in shares of Fuel Tech by 5.1% in the first quarter. Renaissance Technologies LLC now owns 864,944 shares of the industrial products company’s stock valued at $1,107,000 after acquiring an additional 42,357 shares in the last quarter. Acuitas Investments LLC raised its stake in shares of Fuel Tech by 36.9% in the fourth quarter. Acuitas Investments LLC now owns 822,613 shares of the industrial products company’s stock valued at $864,000 after acquiring an additional 221,932 shares in the last quarter. US Bancorp DE raised its stake in shares of Fuel Tech by 25.2% in the first quarter. US Bancorp DE now owns 304,776 shares of the industrial products company’s stock valued at $442,000 after acquiring an additional 61,300 shares in the last quarter. Finally, Susquehanna International Group LLP raised its stake in shares of Fuel Tech by 19.2% in the fourth quarter. Susquehanna International Group LLP now owns 70,877 shares of the industrial products company’s stock valued at $90,000 after acquiring an additional 11,437 shares in the last quarter. 20.94% of the stock is currently owned by hedge funds and other institutional investors.

Fuel Tech Company Profile

(Get Free Report)

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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