Short Interest in Fuel Tech, Inc. (NASDAQ:FTEK) Drops By 44.6%

Fuel Tech, Inc. (NASDAQ:FTEK) was the target of a large decline in short interest in the month of July. As of July 15th, there was short interest totaling 110,212 shares, a decline of 44.6% from the June 30th total of 199,073 shares. Approximately 0.4% of the shares of the company are short sold. Based on an average daily trading volume, of 191,241 shares, the days-to-cover ratio is currently 0.6 days.

Analyst Ratings Changes

FTEK has been the subject of a number of analyst reports. Wall Street Zen downgraded Fuel Tech from a “hold” rating to a “sell” rating in a report on Saturday, May 9th. Weiss Ratings raised shares of Fuel Tech from a “sell (e+)” rating to a “sell (d-)” rating in a report on Monday, June 15th. Finally, Zacks Research raised shares of Fuel Tech from a “strong sell” rating to a “hold” rating in a research note on Monday, July 6th. One analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Reduce”.

Fuel Tech Price Performance

NASDAQ FTEK traded up $0.06 on Thursday, hitting $1.44. The company had a trading volume of 49,332 shares, compared to its average volume of 254,262. The company’s fifty day moving average price is $1.60 and its 200-day moving average price is $1.46. The company has a market capitalization of $44.88 million, a PE ratio of -16.00 and a beta of 1.24. Fuel Tech has a 12-month low of $1.17 and a 12-month high of $3.65.

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

Institutional Investors Weigh In On Fuel Tech

Large investors have recently bought and sold shares of the company. Marquette Asset Management LLC acquired a new stake in shares of Fuel Tech in the second quarter worth approximately $244,000. Renaissance Technologies LLC raised its stake in Fuel Tech by 22.6% in the 1st quarter. Renaissance Technologies LLC now owns 1,407,806 shares of the industrial products company’s stock valued at $1,718,000 after purchasing an additional 259,811 shares during the last quarter. Grace & White Inc. NY lifted its holdings in Fuel Tech by 3.7% in the 1st quarter. Grace & White Inc. NY now owns 1,541,307 shares of the industrial products company’s stock valued at $1,880,000 after purchasing an additional 55,424 shares in the last quarter. Virtu Financial LLC purchased a new position in Fuel Tech in the 4th quarter valued at $27,000. Finally, Beartown Capital Management LLC acquired a new stake in Fuel Tech during the 4th quarter worth $250,000. 20.94% of the stock is currently owned by hedge funds and other institutional investors.

Fuel Tech Company Profile

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.