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

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

Fuel Tech Price Performance

Fuel Tech stock traded down $0.07 during mid-day trading on Wednesday, hitting $1.38. 95,376 shares of the company were exchanged, compared to its average volume of 255,504. Fuel Tech has a 12-month low of $1.17 and a 12-month high of $3.65. The company has a market capitalization of $43.01 million, a P/E ratio of -15.33 and a beta of 1.24. The business’s 50 day simple moving average is $1.60 and its two-hundred day simple moving average is $1.46.

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 company had revenue of $6.08 million for the quarter, compared to analyst estimates of $7.62 million. Equities research analysts predict that Fuel Tech will post -0.12 earnings per share for the current year.

Hedge Funds Weigh In On Fuel Tech

Institutional investors and hedge funds have recently modified their holdings of the company. Virtu Financial LLC purchased a new stake in Fuel Tech in the 4th quarter worth approximately $27,000. Prelude Capital Management LLC purchased a new stake in shares of Fuel Tech in the third quarter valued at $40,000. NewEdge Advisors LLC increased its stake in Fuel Tech by 35,206.0% in the third quarter. NewEdge Advisors LLC now owns 17,653 shares of the industrial products company’s stock valued at $53,000 after purchasing an additional 17,603 shares during the last quarter. Marshall Wace LLP purchased a new position in Fuel Tech during the second quarter worth about $63,000. Finally, Advisory Services Network LLC boosted its stake in Fuel Tech by 44.2% in the 3rd quarter. Advisory Services Network LLC now owns 21,627 shares of the industrial products company’s stock worth $65,000 after buying an additional 6,627 shares during the last quarter. Hedge funds and other institutional investors own 20.94% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. Zacks Research raised Fuel Tech from a “strong sell” rating to a “hold” rating in a research note on Monday, July 6th. Weiss Ratings upgraded Fuel Tech from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Monday, June 15th. Finally, Wall Street Zen lowered Fuel Tech from a “hold” rating to a “sell” rating in a report on Saturday, May 9th. One equities research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Reduce”.

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.