Fuel Tech, Inc. (NASDAQ:FTEK – Get Rating) saw a large decline in short interest in July. As of July 31st, there was short interest totalling 630,900 shares, a decline of 11.1% from the July 15th total of 709,900 shares. Approximately 2.7% of the shares of the stock are sold short. Based on an average daily trading volume, of 93,000 shares, the short-interest ratio is presently 6.8 days.
Fuel Tech Price Performance
Shares of FTEK traded down $0.04 during midday trading on Wednesday, reaching $1.33. The stock had a trading volume of 127,834 shares, compared to its average volume of 141,899. Fuel Tech has a 52 week low of $1.02 and a 52 week high of $2.50. The firm’s 50 day moving average price is $1.27 and its 200-day moving average price is $1.29. The company has a market capitalization of $40.29 million, a P/E ratio of -44.33 and a beta of 4.76.
Hedge Funds Weigh In On Fuel Tech
Hedge funds have recently modified their holdings of the stock. Bank of America Corp DE grew its holdings in shares of Fuel Tech by 33.2% in the 1st quarter. Bank of America Corp DE now owns 67,609 shares of the industrial products company’s stock worth $98,000 after acquiring an additional 16,851 shares during the last quarter. Advisor Group Holdings Inc. grew its holdings in shares of Fuel Tech by 98.6% in the 1st quarter. Advisor Group Holdings Inc. now owns 27,186 shares of the industrial products company’s stock worth $182,000 after acquiring an additional 13,500 shares during the last quarter. Marquette Asset Management LLC grew its holdings in shares of Fuel Tech by 131.2% in the 1st quarter. Marquette Asset Management LLC now owns 126,079 shares of the industrial products company’s stock worth $183,000 after acquiring an additional 71,557 shares during the last quarter. GSA Capital Partners LLP grew its holdings in shares of Fuel Tech by 54.2% in the 4th quarter. GSA Capital Partners LLP now owns 162,560 shares of the industrial products company’s stock worth $228,000 after acquiring an additional 57,131 shares during the last quarter. Finally, US Bancorp DE grew its holdings in shares of Fuel Tech by 25.2% in the 1st quarter. US Bancorp DE now owns 304,776 shares of the industrial products company’s stock worth $442,000 after acquiring an additional 61,300 shares during the last quarter. 18.69% of the stock is currently owned by institutional investors and hedge funds.
Analysts Set New Price Targets
Fuel Tech Company Profile
Fuel Tech, Inc provides boiler optimization, efficiency improvement, and air pollution reduction and control solutions to utility and industrial customers worldwide. It operates through two segments, Air Pollution Control Technology and FUEL CHEM Technology. The Air Pollution Control Technology segment offers technologies to reduce nitrogen oxide (NOx) emissions in flue gas from boilers, incinerators, furnaces, and other stationary combustion sources by low and ultra-low NOx burners; over-fire air systems; NOxOUT and HERT selective non-catalytic reduction systems; selective catalytic reduction systems comprising ammonia injection grid, and graduated straightening grid systems; I-NOx systems; ESP Processes and Services; ULTRA technology; and flue gas conditioning systems; and burner systems.
- Get a free copy of the StockNews.com research report on Fuel Tech (FTEK)
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