Fuel Tech, Inc. (NASDAQ:FTEK) Stock Short Interest Climbs 166.3%

Fuel Tech, Inc. (NASDAQ:FTEK) was the target of a significant growth in short interest during the month of September. As of September 15th, there was short interest totaling 362,655 shares, a growth of 166.3% from the August 31st total of 136,160 shares. Approximately 1.3% of the company’s shares are short sold. Based on an average trading volume of 308,187 shares, the days-to-cover ratio is presently 1.2 days.

Institutional Trading of Fuel Tech

A number of hedge funds have recently bought and sold shares of FTEK. Group One Trading LLC bought a new stake in shares of Fuel Tech in the 2nd quarter worth approximately $31,000. BlackRock Inc. bought a new position in Fuel Tech during the second quarter valued at $1,097,000. GSA Capital Partners LLP bought a new position in Fuel Tech during the second quarter valued at $652,000. Marquette Asset Management LLC purchased a new stake in Fuel Tech in the second quarter worth $244,000. Finally, Renaissance Technologies LLC increased its position in 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. 20.94% of the stock is currently owned by institutional investors.

Fuel Tech Price Performance

NASDAQ:FTEK opened at $1.72 on Friday. Fuel Tech has a one year low of $1.17 and a one year high of $3.45. The company has a market cap of $53.54 million, a PE ratio of -15.59 and a beta of 1.30. The firm has a 50-day moving average of $1.53 and a 200-day moving average of $1.49.

Fuel Tech (NASDAQ:FTEK) last announced its quarterly earnings results on Tuesday, August 4th. The industrial products company reported ($0.04) earnings per share for the quarter, missing the consensus estimate of ($0.02) by ($0.02). The business had revenue of $6.49 million during the quarter, compared to the consensus estimate of $6.58 million. Fuel Tech had a negative net margin of 12.75% and a negative return on equity of 8.88%. On average, equities research analysts expect that Fuel Tech will post -0.13 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several analysts have recently commented on the stock. Zacks Research downgraded shares of Fuel Tech from a “hold” rating to a “strong sell” rating in a research report on Friday, August 7th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Fuel Tech in a research report on Friday, September 11th. Finally, Wall Street Zen raised shares of Fuel Tech from a “sell” rating to a “hold” rating in a research note on Saturday, September 5th. Two equities research analysts have rated the stock with a Sell rating, Based on data from MarketBeat, the company has a consensus rating of “Sell”.

Fuel Tech Company Profile

Fuel Tech, Inc (NASDAQ:FTEK) develops and commercializes technologies designed to improve industrial combustion processes and reduce air pollution. Its solutions are used primarily by utility, industrial, refining, cement, steel, and waste-to-energy facilities.

The company’s Air Pollution Control technologies address nitrogen oxide (NOx) emissions from combustion sources. Its offerings include selective non-catalytic reduction and related systems, including the NOxOUT and HERT technologies, which are designed to help customers meet environmental regulations while maintaining operating efficiency.

Fuel Tech also provides fuel-treatment and combustion-optimization products through its FUEL CHEM business.