Short Interest in Fuel Tech, Inc. (NASDAQ:FTEK) Declines By 20.1%

Fuel Tech, Inc. (NASDAQ:FTEK) was the recipient of a large decrease in short interest in the month of December. As of December 31st, there was short interest totaling 283,130 shares, a decrease of 20.1% from the December 15th total of 354,545 shares. Approximately 1.0% of the company’s stock are short sold. Based on an average daily trading volume, of 214,371 shares, the days-to-cover ratio is presently 1.3 days. Based on an average daily trading volume, of 214,371 shares, the days-to-cover ratio is presently 1.3 days. Approximately 1.0% of the company’s stock are short sold.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on FTEK shares. Wall Street Zen raised shares of Fuel Tech from a “hold” rating to a “buy” rating in a research report on Saturday, December 6th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Fuel Tech in a research note on Friday, October 31st. One investment analyst has rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $4.00.

Fuel Tech Price Performance

FTEK stock traded up $0.02 during trading on Tuesday, hitting $1.56. 209,963 shares of the stock traded hands, compared to its average volume of 141,747. The stock has a market cap of $48.48 million, a price-to-earnings ratio of -17.33 and a beta of 0.95. Fuel Tech has a 1 year low of $0.87 and a 1 year high of $3.65. The firm’s 50 day moving average is $1.70 and its two-hundred day moving average is $2.45.

Fuel Tech (NASDAQ:FTEK) last issued its earnings results on Tuesday, November 4th. The industrial products company reported $0.01 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.01. Fuel Tech had a negative net margin of 12.17% and a negative return on equity of 7.29%. The business had revenue of $7.49 million during the quarter, compared to analysts’ expectations of $9.39 million. As a group, analysts anticipate that Fuel Tech will post -0.03 EPS for the current fiscal year.

Institutional Trading of Fuel Tech

Several institutional investors have recently added to or reduced their stakes in FTEK. Corsair Capital Management L.P. bought a new stake in shares of Fuel Tech in the 2nd quarter worth $25,000. Covestor Ltd bought a new position in shares of Fuel Tech during the third quarter valued at $40,000. Prelude Capital Management LLC purchased a new stake in shares of Fuel Tech during the third quarter valued at $40,000. NewEdge Advisors LLC boosted its position in shares of 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. Finally, Marshall Wace LLP bought a new stake in Fuel Tech in the 2nd quarter worth about $63,000. 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.