Fuel Tech, Inc. (NASDAQ:FTEK) Sees Large Increase in Short Interest

Fuel Tech, Inc. (NASDAQ:FTEK) was the recipient of a significant increase in short interest in September. As of September 15th, there was short interest totaling 362,655 shares, an increase of 166.3% from the August 31st total of 136,160 shares. Based on an average daily trading volume, of 308,187 shares, the days-to-cover ratio is presently 1.2 days. Approximately 1.3% of the shares of the stock are short sold.

Fuel Tech Stock Down 2.3%

Shares of FTEK stock traded down $0.04 during trading hours on Monday, hitting $1.68. 49,073 shares of the company were exchanged, compared to its average volume of 239,545. Fuel Tech has a 1 year low of $1.17 and a 1 year high of $3.45. The firm has a fifty day moving average of $1.53 and a 200 day moving average of $1.49. The firm has a market cap of $52.32 million, a PE ratio of -15.26 and a beta of 1.30.

Fuel Tech (NASDAQ:FTEK) last posted its quarterly earnings results on Tuesday, August 4th. The industrial products company reported ($0.04) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.02). Fuel Tech had a negative return on equity of 8.88% and a negative net margin of 12.75%.The company had revenue of $6.49 million for the quarter, compared to analysts’ expectations of $6.58 million. Analysts expect that Fuel Tech will post -0.13 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the stock. Zacks Research cut shares of Fuel Tech from a “hold” rating to a “strong sell” rating in a research note on Friday, August 7th. Weiss Ratings restated a “sell (d-)” rating on shares of Fuel Tech in a research report on Friday, September 11th. Finally, Wall Street Zen raised shares of Fuel Tech from a “sell” rating to a “hold” rating in a research note on Saturday, September 5th. Two analysts have rated the stock with a Sell rating, According to data from MarketBeat.com, the stock has an average rating of “Sell”.

Institutional Investors Weigh In On Fuel Tech

Several institutional investors and hedge funds have recently modified their holdings of FTEK. Grace & White Inc. NY grew its position in Fuel Tech by 3.7% in the first quarter. Grace & White Inc. NY now owns 1,541,307 shares of the industrial products company’s stock valued at $1,880,000 after acquiring an additional 55,424 shares in the last quarter. Renaissance Technologies LLC boosted its holdings in Fuel Tech by 22.6% in the first quarter. Renaissance Technologies LLC now owns 1,407,806 shares of the industrial products company’s stock worth $1,718,000 after purchasing an additional 259,811 shares during the period. BlackRock Inc. bought a new stake in shares of Fuel Tech during the 2nd quarter valued at about $1,097,000. GSA Capital Partners LLP bought a new position in shares of Fuel Tech during the second quarter valued at approximately $652,000. Finally, Marquette Asset Management LLC bought a new position in Fuel Tech during the 2nd quarter worth $244,000. Hedge funds and other institutional investors own 20.94% of the company’s stock.

About Fuel Tech

Fuel Tech, Inc (NASDAQ:FTEK) develops and commercializes technologies designed to improve industrial combustion processes and reduce air pollution. Its solutions are used primarily by utility, industrial, refining, cement, steel, and waste-to-energy facilities.

The company’s Air Pollution Control technologies address nitrogen oxide (NOx) emissions from combustion sources. Its offerings include selective non-catalytic reduction and related systems, including the NOxOUT and HERT technologies, which are designed to help customers meet environmental regulations while maintaining operating efficiency.

Fuel Tech also provides fuel-treatment and combustion-optimization products through its FUEL CHEM business.