StockNews.com has covered Fuel Tech (NASDAQ:FTEK) shares and issued a “hold” rating. The company’s stock opened at $1.24 on Friday, with a market cap of $37.57 million. Fuel Tech, Inc specializes in air pollution control, process optimization, water treatment, and advanced engineering services. Institutional investors and hedge funds have recently made changes to their positions in Fuel Tech. Currently, institutional investors own 17.34% of the company’s stock.
Fuel Tech Stock Now Covered by Analysts at StockNews.com
On Sunday, research analysts at StockNews.com issued a research report that assumed coverage of Fuel Tech (NASDAQ:FTEK) shares. The brokerage has set a “hold” rating on the industrial product company’s stock.
Fuel Tech Stock Performance
On Friday, Fuel Tech’s stock (NASDAQ:FTEK) opened at $1.24, with a fifty-two week low of $1.02 and a fifty-two week high of $1.75. The company has a market cap of $37.57 million, a price-to-earnings ratio of -31.00, and a beta of 4.33. Additionally, the stock has a fifty-day moving average price of $1.47 and a 200-day moving average price of $1.36.
Institutional Investors and Hedge Funds Changes
Recently, several institutional investors and hedge funds have made changes to their positions in Fuel Tech. For instance, Essex Investment Management Co. LLC bought a new position in Fuel Tech during the third quarter, worth approximately $343,000. Similarly, US Bancorp DE raised its holdings in Fuel Tech by 25.2% during the first quarter, owning 304,776 shares of the industrial products company’s stock worth $442,000 after buying an additional 61,300 shares during the last quarter. Renaissance Technologies LLC lifted its stake in shares of Fuel Tech by 5.9% in the fourth quarter, owning 822,587 shares of the industrial products company’s stock valued at $1,049,000 after buying an additional 46,171 shares in the last quarter. Legato Capital Management LLC also acquired a new position in shares of Fuel Tech during the fourth quarter, valued at about $43,000. Finally, Bank of America Corp DE increased its position in shares of Fuel Tech by 33.2% during the first quarter, owning 67,609 shares of the industrial products company’s stock worth $98,000 after acquiring an additional 16,851 shares in the last quarter. As of now, institutional investors own 17.34% of the company’s stock.
About Fuel Tech
Fuel Tech, Inc engages in the development, commercialization, and application of proprietary technologies for air pollution control, process optimization, water treatment, and advanced engineering services. The company operates through the following segments: Air Pollution Control, Fuel Chem Technologies, and Other.
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