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

Fuel Tech, Inc. (NASDAQ:FTEK) saw a large drop in short interest in the month of May. As of May 29th, there was short interest totaling 63,708 shares, a drop of 40.5% from the May 14th total of 107,056 shares. Approximately 0.2% of the company’s shares are short sold. Based on an average daily trading volume, of 233,173 shares, the short-interest ratio is presently 0.3 days.

Fuel Tech Price Performance

Shares of Fuel Tech stock remained flat at $1.31 on Tuesday. 104,110 shares of the stock were exchanged, compared to its average volume of 187,771. The firm’s 50-day moving average price is $1.41 and its 200 day moving average price is $1.45. Fuel Tech has a 52-week low of $1.17 and a 52-week high of $3.65. The stock has a market cap of $40.83 million, a PE ratio of -14.55 and a beta of 1.34.

Fuel Tech (NASDAQ:FTEK) last issued its quarterly earnings data on Tuesday, May 5th. The industrial products company reported ($0.04) earnings per share (EPS) for the quarter. The firm had revenue of $6.08 million during the quarter, compared to analysts’ expectations of $7.62 million. Fuel Tech had a negative return on equity of 7.34% and a negative net margin of 11.15%. As a group, equities research analysts anticipate that Fuel Tech will post -0.12 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research analysts recently commented on the stock. Zacks Research downgraded shares of Fuel Tech from a “hold” rating to a “strong sell” rating in a research note on Friday, May 8th. Weiss Ratings downgraded shares of Fuel Tech from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Monday, June 1st. Finally, Wall Street Zen downgraded shares of Fuel Tech from a “hold” rating to a “sell” rating in a research report on Saturday, May 9th. Two analysts have rated the stock with a Sell rating, According to MarketBeat, the stock has a consensus rating of “Sell”.

Institutional Trading of Fuel Tech

Institutional investors and hedge funds have recently bought and sold shares of the business. Virtu Financial LLC acquired a new stake in Fuel Tech during the 4th quarter valued at approximately $27,000. Prelude Capital Management LLC acquired a new stake in Fuel Tech during the 3rd quarter valued at approximately $40,000. NewEdge Advisors LLC lifted its stake in Fuel Tech by 35,206.0% during the 3rd quarter. NewEdge Advisors LLC now owns 17,653 shares of the industrial products company’s stock valued at $53,000 after acquiring an additional 17,603 shares during the period. Marshall Wace LLP acquired a new stake in Fuel Tech during the 2nd quarter valued at approximately $63,000. Finally, Advisory Services Network LLC lifted its stake in shares of 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 valued at $65,000 after purchasing an additional 6,627 shares during the period. 20.94% of the stock is currently owned by institutional investors and hedge funds.

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.