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

Fuel Tech, Inc. (NASDAQ:FTEK) saw a large increase in short interest in the month of June. As of June 30th, there was short interest totaling 199,073 shares, an increase of 139.9% from the June 15th total of 82,972 shares. Based on an average daily volume of 1,230,274 shares, the days-to-cover ratio is currently 0.2 days. Currently, 0.7% of the shares of the stock are sold short.

Institutional Investors Weigh In On Fuel Tech

Several hedge funds have recently made changes to their positions in the company. Geode Capital Management LLC boosted its stake in Fuel Tech by 3.6% in the 2nd quarter. Geode Capital Management LLC now owns 517,658 shares of the industrial products company’s stock worth $1,305,000 after purchasing an additional 17,766 shares during the period. Marshall Wace LLP acquired a new stake in Fuel Tech during the 2nd quarter valued at $63,000. Vanguard Group Inc. raised its stake in Fuel Tech by 7.7% during the 3rd quarter. Vanguard Group Inc. now owns 1,013,864 shares of the industrial products company’s stock valued at $3,042,000 after purchasing an additional 72,895 shares during the period. Dimensional Fund Advisors LP purchased a new stake in shares of Fuel Tech in the third quarter valued at $163,000. Finally, Boothbay Fund Management LLC purchased a new stake in shares of Fuel Tech in the third quarter valued at $124,000. Hedge funds and other institutional investors own 20.94% of the company’s stock.

Fuel Tech Stock Performance

FTEK traded down $0.02 during trading on Tuesday, reaching $1.57. The company had a trading volume of 18,556 shares, compared to its average volume of 268,077. The firm’s 50-day simple moving average is $1.59 and its 200 day simple moving average is $1.46. The company has a market cap of $48.94 million, a price-to-earnings ratio of -17.46 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 posted its quarterly earnings data on Tuesday, May 5th. The industrial products company reported ($0.04) EPS 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 analysts’ expectations of $7.62 million. On average, sell-side analysts expect that Fuel Tech will post -0.12 EPS for the current year.

Wall Street Analyst Weigh In

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

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.