Fuel Tech, Inc. (NASDAQ:FTEK) was the recipient of a large decline in short interest during the month of August. As of August 31st, there was short interest totalling 1,000,000 shares, a decline of 20.0% from the August 15th total of 1,250,000 shares. Currently, 4.3% of the shares of the stock are short sold. Based on an average daily volume of 539,700 shares, the days-to-cover ratio is currently 1.9 days.
Shares of FTEK traded down $0.01 during trading on Tuesday, reaching $1.68. The company’s stock had a trading volume of 2,982 shares, compared to its average volume of 1,153,993. The company has a market cap of $50.84 million, a price-to-earnings ratio of -9.94 and a beta of 5.85. Fuel Tech has a twelve month low of $0.60 and a twelve month high of $7.04. The company has a fifty day moving average of $1.87 and a two-hundred day moving average of $2.29.
Fuel Tech (NASDAQ:FTEK) last issued its earnings results on Tuesday, August 10th. The industrial products company reported ($0.03) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.06) by $0.03. Fuel Tech had a return on equity of 1.31% and a net margin of 1.84%. The firm had revenue of $5.22 million for the quarter, compared to analyst estimates of $4.73 million. On average, analysts anticipate that Fuel Tech will post -0.07 earnings per share for the current fiscal year.
Separately, Zacks Investment Research raised shares of Fuel Tech from a “hold” rating to a “strong-buy” rating and set a $2.00 price objective for the company in a research note on Monday, August 16th.
About Fuel Tech
Fuel Tech, Inc engages in the development, commercialization and application of proprietary technologies for air pollution control, process optimization, water treatment, and advanced engineering services. It operates through the following segments: Air Pollution Control, Fuel Chem Technologies, and Other.
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