Fuel Tech, Inc. (NASDAQ:FTEK) Stock Short Interest Report for September

Fuel Tech, Inc. (NASDAQ:FTEK) was the recipient of a large decline in short interest in the month of September. As of September 30th, there was short interest totaling 207,038 shares, a decline of 42.9% from the September 15th total of 362,655 shares. Approximately 0.7% of the company’s shares are sold short. Based on an average daily trading volume, of 150,677 shares, the short-interest ratio is presently 1.4 days.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. Zacks Research upgraded shares of Fuel Tech from a “strong sell” rating to a “hold” rating in a report on Monday, October 5th. Weiss Ratings restated a “sell (d-)” rating on shares of Fuel Tech in a report on Friday, September 11th. Finally, Wall Street Zen upgraded shares of Fuel Tech from a “sell” rating to a “hold” rating in a research report on Saturday, September 5th. One research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Fuel Tech presently has a consensus rating of “Reduce”.

Fuel Tech Stock Down 1.4%

Shares of Fuel Tech stock traded down $0.02 during midday trading on Friday, hitting $1.40. The company’s stock had a trading volume of 37,130 shares, compared to its average volume of 235,094. The firm has a market capitalization of $43.70 million, a P/E ratio of -12.73 and a beta of 1.28. The stock has a 50-day simple moving average of $1.57 and a 200-day simple moving average of $1.53. Fuel Tech has a 1-year low of $1.17 and a 1-year high of $3.20.

Fuel Tech (NASDAQ:FTEK) last posted 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 for the quarter, compared to analyst estimates of $6.58 million. Fuel Tech had a negative net margin of 12.75% and a negative return on equity of 8.88%. As a group, sell-side analysts predict that Fuel Tech will post -0.13 earnings per share for the current year.

Hedge Funds Weigh In On Fuel Tech

Large investors have recently made changes to their positions in the business. Group One Trading LLC purchased a new stake in shares of Fuel Tech in the second quarter worth approximately $31,000. Marquette Asset Management LLC acquired a new position in Fuel Tech in the 2nd quarter valued at approximately $244,000. GSA Capital Partners LLP acquired a new position in Fuel Tech in the 2nd quarter valued at approximately $652,000. BlackRock Inc. acquired a new position in Fuel Tech in the 2nd quarter valued at approximately $1,097,000. Finally, Renaissance Technologies LLC increased its stake in Fuel Tech by 22.6% in the 1st quarter. Renaissance Technologies LLC now owns 1,407,806 shares of the industrial products company’s stock valued at $1,718,000 after buying an additional 259,811 shares during the period. Institutional investors and hedge funds own 20.94% of the company’s stock.

About Fuel Tech

Fuel Tech, Inc is an environmental technology company that develops and applies proprietary solutions for air pollution control, combustion optimization and water treatment. Its customers include electric utilities, industrial facilities and other operators seeking to improve environmental performance and operating efficiency.

The company’s offerings include technologies designed to reduce nitrogen oxide emissions, including selective non-catalytic reduction systems and related reagent-injection solutions.