Short Interest in Fuel Tech, Inc. (NASDAQ:FTEK) Drops By 39.9%

Fuel Tech, Inc. (NASDAQ:FTEK) was the recipient of a large decrease in short interest in January. As of January 15th, there was short interest totaling 170,284 shares, a decrease of 39.9% from the December 31st total of 283,130 shares. Approximately 0.6% of the shares of the stock are sold short. Based on an average daily trading volume, of 137,719 shares, the days-to-cover ratio is presently 1.2 days. Based on an average daily trading volume, of 137,719 shares, the days-to-cover ratio is presently 1.2 days. Approximately 0.6% of the shares of the stock are sold short.

Institutional Investors Weigh In On Fuel Tech

Hedge funds and other institutional investors have recently modified their holdings of the stock. Mercuria Capital Strategies LLC acquired a new position in Fuel Tech during the third quarter worth $720,000. Vanguard Group Inc. grew its position in shares of Fuel Tech by 7.7% in 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 purchasing an additional 72,895 shares during the last quarter. Dimensional Fund Advisors LP acquired a new position in shares of Fuel Tech during the 3rd quarter worth approximately $163,000. Boothbay Fund Management LLC acquired a new position in shares of Fuel Tech in the third quarter worth $124,000. Finally, GSA Capital Partners LLP acquired a new stake in shares of Fuel Tech during the third quarter valued at $109,000. 20.94% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on FTEK shares. Weiss Ratings reiterated a “sell (d-)” rating on shares of Fuel Tech in a report on Wednesday. Wall Street Zen upgraded Fuel Tech from a “hold” rating to a “buy” rating in a report on Saturday, December 6th. One research analyst has rated the stock with a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $4.00.

Fuel Tech Price Performance

Shares of FTEK stock traded down $0.03 during trading on Friday, hitting $1.36. 208,729 shares of the stock traded hands, compared to its average volume of 147,432. The firm’s fifty day moving average price is $1.63 and its 200-day moving average price is $2.38. The firm has a market capitalization of $42.26 million, a P/E ratio of -15.11 and a beta of 0.95. Fuel Tech has a 52-week low of $0.87 and a 52-week high of $3.65.

Fuel Tech (NASDAQ:FTEK) last posted its quarterly earnings data on Tuesday, November 4th. The industrial products company reported $0.01 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.01. Fuel Tech had a negative return on equity of 7.29% and a negative net margin of 12.17%.The business had revenue of $7.49 million for the quarter, compared to analyst estimates of $9.39 million. As a group, equities research analysts expect that Fuel Tech will post -0.03 earnings per share for the current year.

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.