Fuel Tech, Inc. (NASDAQ:FTEK) Short Interest Down 40.5% in May

Fuel Tech, Inc. (NASDAQ:FTEK) was the target of a large drop in short interest in 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. Based on an average daily volume of 233,173 shares, the days-to-cover ratio is currently 0.3 days. Approximately 0.2% of the shares of the stock are sold short.

Analyst Ratings Changes

A number of research firms have weighed in on FTEK. Weiss Ratings lowered shares of Fuel Tech from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Monday, June 1st. Zacks Research lowered shares of Fuel Tech from a “hold” rating to a “strong sell” rating in a research note on Friday, May 8th. Finally, Wall Street Zen lowered shares of Fuel Tech from a “hold” rating to a “sell” rating in a research note on Saturday, May 9th. Two investment analysts have rated the stock with a Sell rating, According to data from MarketBeat, Fuel Tech currently has a consensus rating of “Sell”.

Fuel Tech Stock Down 2.2%

FTEK traded down $0.03 during trading on Monday, reaching $1.31. The company’s stock had a trading volume of 77,150 shares, compared to its average volume of 188,512. The company has a market cap of $40.83 million, a price-to-earnings ratio of -14.55 and a beta of 1.33. The firm has a fifty day simple moving average of $1.41 and a two-hundred day simple moving average of $1.45. Fuel Tech has a 1 year low of $1.17 and a 1 year high of $3.65.

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

Institutional Trading of Fuel Tech

Several institutional investors have recently made changes to their positions in FTEK. Geode Capital Management LLC raised its position in shares of Fuel Tech by 3.6% during the 2nd 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. Marshall Wace LLP purchased a new stake in shares of Fuel Tech during the 2nd quarter valued at approximately $63,000. Vanguard Group Inc. raised its position in shares of Fuel Tech by 7.7% during the 3rd 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. GSA Capital Partners LLP purchased a new stake in shares of Fuel Tech during the 3rd quarter valued at approximately $109,000. Finally, Dimensional Fund Advisors LP purchased a new stake in shares of Fuel Tech during the 3rd quarter valued at approximately $163,000. Hedge funds and other institutional investors own 20.94% of the company’s stock.

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.