Fuel Tech, Inc. (NASDAQ:FTEK) Shares Shorted: Short Interest Down 42.9% in September

Fuel Tech, Inc. (NASDAQ:FTEK) was the recipient of a significant decline in short interest in the month of September. As of September 30th, there was short interest totaling 207,038 shares, a decline of 42.9% from the September 15th total of 362,655 shares. Based on an average trading volume of 150,677 shares, the days-to-cover ratio is currently 1.4 days. Currently, 0.7% of the shares of the company are short sold.

Institutional Trading of Fuel Tech

Institutional investors have recently made changes to their positions in the business. Group One Trading LLC bought a new position in Fuel Tech in the 2nd quarter worth approximately $31,000. Marquette Asset Management LLC bought a new position in Fuel Tech during the second quarter valued at $244,000. GSA Capital Partners LLP purchased a new position in Fuel Tech in the second quarter worth about $652,000. BlackRock Inc. bought a new stake in shares of Fuel Tech in the 2nd quarter valued at approximately $1,097,000. Finally, Renaissance Technologies LLC lifted its stake in shares of 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. Hedge funds and other institutional investors own 20.94% of the company’s stock.

Fuel Tech Trading Down 1.4%

Fuel Tech stock traded down $0.02 during trading on Friday, reaching $1.40. The company had a trading volume of 37,130 shares, compared to its average volume of 165,943. The firm has a market capitalization of $43.71 million, a price-to-earnings ratio of -12.73 and a beta of 1.28. The firm’s 50-day simple moving average is $1.57 and its 200 day simple moving average is $1.53. Fuel Tech has a 52 week low of $1.17 and a 52 week high of $3.20.

Fuel Tech (NASDAQ:FTEK) last issued its quarterly earnings results on Tuesday, August 4th. The industrial products company reported ($0.04) EPS for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.02). Fuel Tech had a negative return on equity of 8.88% and a negative net margin of 12.75%. The company had revenue of $6.49 million during the quarter, compared to analysts’ expectations of $6.58 million. On average, analysts predict that Fuel Tech will post -0.13 earnings per share for the current year.

Analyst Ratings Changes

FTEK has been the topic of several research analyst reports. Zacks Research raised Fuel Tech from a “strong sell” rating to a “hold” rating in a report on Monday, October 5th. Wall Street Zen upgraded Fuel Tech from a “sell” rating to a “hold” rating in a research note on Saturday, September 5th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Fuel Tech in a research report on Friday, September 11th. One equities research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Reduce”.

Fuel Tech Company Profile

Fuel Tech, Inc is an environmental technology company that develops and applies proprietary solutions for air pollution control, combustion optimization and water treatment. Its customers include electric utilities, industrial facilities and other operators seeking to improve environmental performance and operating efficiency.

The company’s offerings include technologies designed to reduce nitrogen oxide emissions, including selective non-catalytic reduction systems and related reagent-injection solutions.