Short Interest in Fuel Tech, Inc. (NASDAQ:FTEK) Rises By 139.9%

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

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on FTEK. Wall Street Zen cut Fuel Tech from a “hold” rating to a “sell” rating in a research note on Saturday, May 9th. Weiss Ratings upgraded shares of Fuel Tech from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Monday, June 15th. Finally, Zacks Research raised shares of Fuel Tech from a “strong sell” rating to a “hold” rating in a research report on Monday, July 6th. One research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Reduce”.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in FTEK. Grace & White Inc. NY grew its position in Fuel Tech by 3.7% in the 1st quarter. Grace & White Inc. NY now owns 1,541,307 shares of the industrial products company’s stock worth $1,880,000 after purchasing an additional 55,424 shares during the period. Renaissance Technologies LLC boosted its holdings in shares of Fuel Tech by 22.6% in the first quarter. Renaissance Technologies LLC now owns 1,407,806 shares of the industrial products company’s stock worth $1,718,000 after buying an additional 259,811 shares during the last quarter. Vanguard Group Inc. grew its position in Fuel Tech by 7.7% during the third quarter. Vanguard Group Inc. now owns 1,013,864 shares of the industrial products company’s stock valued at $3,042,000 after buying an additional 72,895 shares during the period. Geode Capital Management LLC grew its position in Fuel Tech by 3.6% during the second quarter. Geode Capital Management LLC now owns 517,658 shares of the industrial products company’s stock valued at $1,305,000 after buying an additional 17,766 shares during the period. Finally, XTX Topco Ltd increased its holdings in Fuel Tech by 218.3% during the fourth quarter. XTX Topco Ltd now owns 178,303 shares of the industrial products company’s stock valued at $278,000 after buying an additional 122,291 shares during the last quarter. Institutional investors own 20.94% of the company’s stock.

Fuel Tech Price Performance

Shares of Fuel Tech stock traded down $0.03 during trading on Wednesday, hitting $1.57. 107,240 shares of the company’s stock traded hands, compared to its average volume of 267,816. Fuel Tech has a 1 year low of $1.17 and a 1 year high of $3.65. The business has a 50-day simple moving average of $1.59 and a 200-day simple moving average of $1.46. The stock has a market capitalization of $48.94 million, a P/E ratio of -17.44 and a beta of 1.24.

Fuel Tech (NASDAQ:FTEK) last issued its earnings results on Tuesday, May 5th. The industrial products company reported ($0.04) earnings per share for the quarter. The business 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%. On average, equities analysts predict that Fuel Tech will post -0.12 earnings per share for the current fiscal year.

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.