Fuel Tech, Inc. (NASDAQ:FTEK) Short Interest Down 40.5% in May

Fuel Tech, Inc. (NASDAQ:FTEK) was the recipient of a large drop in short interest during the month of May. As of May 29th, there was short interest totaling 63,708 shares, a drop of 40.5% from the May 14th total of 107,056 shares. Currently, 0.2% of the company’s shares are sold short. Based on an average daily trading volume, of 233,173 shares, the days-to-cover ratio is presently 0.3 days.

Institutional Investors Weigh In On Fuel Tech

Hedge funds have recently made changes to their positions in the company. Prelude Capital Management LLC bought a new stake in shares of Fuel Tech during the third quarter valued at approximately $40,000. Virtu Financial LLC bought a new stake in shares of Fuel Tech during the fourth quarter valued at approximately $27,000. NewEdge Advisors LLC raised its stake in Fuel Tech by 35,206.0% during the third quarter. NewEdge Advisors LLC now owns 17,653 shares of the industrial products company’s stock valued at $53,000 after buying an additional 17,603 shares during the last quarter. Advisory Services Network LLC raised its stake in Fuel Tech by 44.2% during the third quarter. Advisory Services Network LLC now owns 21,627 shares of the industrial products company’s stock valued at $65,000 after buying an additional 6,627 shares during the last quarter. Finally, Marshall Wace LLP purchased a new position in Fuel Tech during the second quarter valued at $63,000. 20.94% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. Zacks Research lowered Fuel Tech from a “hold” rating to a “strong sell” rating in a research report on Friday, May 8th. Weiss Ratings lowered Fuel Tech from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Monday, June 1st. Finally, Wall Street Zen lowered Fuel Tech from a “hold” rating to a “sell” rating in a research report on Saturday, May 9th. Two research analysts have rated the stock with a Sell rating, According to MarketBeat.com, the company has an average rating of “Sell”.

Fuel Tech Price Performance

NASDAQ FTEK opened at $1.31 on Wednesday. Fuel Tech has a twelve month low of $1.17 and a twelve month high of $3.65. The firm has a market capitalization of $40.83 million, a PE ratio of -14.55 and a beta of 1.33. The stock’s 50 day moving average is $1.41 and its 200 day moving average is $1.45.

Fuel Tech (NASDAQ:FTEK) last released its quarterly earnings results on Tuesday, May 5th. The industrial products company reported ($0.04) earnings per share for the quarter. Fuel Tech had a negative net margin of 11.15% and a negative return on equity of 7.34%. The firm had revenue of $6.08 million for the quarter, compared to the consensus estimate of $7.62 million. On average, research analysts anticipate that Fuel Tech will post -0.12 earnings per share for the current year.

About Fuel Tech

Fuel Tech, Inc (NASDAQ: FTEK) is a specialty technology and engineering company focused on developing and supplying clean air solutions for the power generation and industrial markets. The company designs, manufactures and markets proprietary chemical reagents and process control systems that help customers reduce emissions of nitrogen oxides (NOx), mercury and other air pollutants. Its technology platform combines advanced process modeling, plant optimization software and field testing services to help utilities and industrial facilities comply with environmental regulations and improve operational efficiency.

Fuel Tech’s core product lines include selective catalytic reduction (SCR) optimization systems, activated carbon injection solutions for mercury capture, and sorbent enhancement additives for flue gas desulfurization processes.