Fuel Tech Inc. (FTEK) has lent support to NYSE and NASDAQ listed companies in the industrial goods sector by being one of the best performers during morning trading on September 22. At the lunch break, shares of FTEK have jumped 4.79% to $1.48 after closing the day prior at $1.41. In the first two and a half hours of trading, the stock has gone as high as $1.49 and as low as $1.42. Today’s rise has come with about 8,505 shares changing hands, compared to an average 30-day volume of 50,441 for Fuel Tech Inc.. The price is currently below the 30-day volume weighted average price of $1.43 for FTEK.
The share appreciation gives the company a market capitalization of $33.06 million based upon 23.45 million shares outstanding. It also means that FTEK has a price-to-book ratio of 0.6:1.
In the past 52 weeks, shares of FTEK have traded as low as $1.31 and as high as $2.5399. Technical traders will take note that at $1.48, shares of FTEK are trading below their 200-day MA at $1.64 and below their 50-day MA at $1.5. Technical analysts pay close attention to these key moving averages because they often serve as technical support and resistance levels and because a move through or holding above them is typically regarded as bullish.
Who is FTEK?
Fuel Tech Inc is a technology company engaged in the development, commercialization and application of proprietary technologies for air pollution control, process optimization, combustion efficiency and engineering services. The company’s 182 employees are led by CEO Vincent J. Arnone from the corporate headquarters at 27601 Bella Vista Parkway in Warrenville, IL.
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