Fuel Tech, Inc. (NASDAQ:FTEK) Stock Short Interest Falls 42.9%
by Tristan Rich · The Markets DailyFuel Tech, Inc. (NASDAQ:FTEK – Get Free Report) saw a large decline in short interest in 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. Based on an average daily volume of 150,677 shares, the days-to-cover ratio is presently 1.4 days. Currently, 0.7% of the shares of the company are short sold.
Analyst Upgrades and Downgrades
Several equities analysts have weighed in 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. Wall Street Zen raised Fuel Tech from a “sell” rating to a “hold” rating in a research note on Saturday, September 5th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Fuel Tech in a research report on Friday, September 11th. One analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Reduce”.
Get Our Latest Stock Analysis on Fuel Tech
Fuel Tech Trading Down 2.8%
FTEK stock traded down $0.04 during mid-day trading on Thursday, hitting $1.41. 715,329 shares of the company were exchanged, compared to its average volume of 235,983. The firm has a fifty day simple moving average of $1.57 and a 200 day simple moving average of $1.53. The company has a market capitalization of $44.15 million, a PE ratio of -12.86 and a beta of 1.28. Fuel Tech has a twelve month low of $1.17 and a twelve month high of $3.45.
Fuel Tech (NASDAQ:FTEK – Get Free Report) last announced its quarterly earnings data on Tuesday, August 4th. The industrial products company reported ($0.04) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.02) by ($0.02). Fuel Tech had a negative net margin of 12.75% and a negative return on equity of 8.88%. The firm had revenue of $6.49 million for the quarter, compared to analyst estimates of $6.58 million. As a group, sell-side analysts anticipate that Fuel Tech will post -0.13 earnings per share for the current year.
Institutional Investors Weigh In On Fuel Tech
A number of hedge funds have recently added to or reduced their stakes in FTEK. Group One Trading LLC bought a new position in Fuel Tech in the 2nd quarter valued at about $31,000. BlackRock Inc. bought a new position in Fuel Tech during the 2nd quarter valued at $1,097,000. GSA Capital Partners LLP acquired a new stake in shares of Fuel Tech in the second quarter valued at $652,000. Marquette Asset Management LLC acquired a new position in Fuel Tech during the second quarter worth about $244,000. Finally, Renaissance Technologies LLC grew its holdings in Fuel Tech by 22.6% during the first quarter. Renaissance Technologies LLC now owns 1,407,806 shares of the industrial products company’s stock worth $1,718,000 after acquiring an additional 259,811 shares during the period. 20.94% of the stock is currently owned by institutional investors.
Fuel Tech Company Profile
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.