Fuel Tech, Inc. (NASDAQ:FTEK) Sees Large Drop in Short Interest

Fuel Tech, Inc. (NASDAQ:FTEK) was the recipient of a large decrease in short interest during the month of April. As of April 15th, there was short interest totalling 381,800 shares, a decrease of 8.0% from the March 31st total of 415,100 shares. Approximately 1.6% of the shares of the stock are short sold. Based on an average daily trading volume, of 74,500 shares, the days-to-cover ratio is currently 5.1 days.

Institutional Trading of Fuel Tech

Several hedge funds and other institutional investors have recently added to or reduced their stakes in FTEK. Acuitas Investments LLC boosted its position in shares of Fuel Tech by 36.9% in the fourth quarter. Acuitas Investments LLC now owns 822,613 shares of the industrial products company’s stock worth $864,000 after acquiring an additional 221,932 shares during the last quarter. Grace & White Inc. NY raised its stake in Fuel Tech by 6.9% during the fourth quarter. Grace & White Inc. NY now owns 1,859,922 shares of the industrial products company’s stock worth $1,953,000 after purchasing an additional 120,527 shares during the period. Finally, Migdal Insurance & Financial Holdings Ltd. purchased a new position in Fuel Tech during the fourth quarter worth approximately $26,000. Hedge funds and other institutional investors own 20.94% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently commented on FTEK shares. HC Wainwright reiterated a “buy” rating and set a $4.00 price objective on shares of Fuel Tech in a research report on Wednesday, March 13th. StockNews.com initiated coverage on shares of Fuel Tech in a research note on Wednesday, April 24th. They set a “hold” rating on the stock.

Fuel Tech Price Performance

FTEK traded up $0.02 during trading on Monday, hitting $1.26. The company’s stock had a trading volume of 160,218 shares, compared to its average volume of 69,180. Fuel Tech has a twelve month low of $0.96 and a twelve month high of $1.48. The stock has a market cap of $38.29 million, a PE ratio of -25.20 and a beta of 4.34. The firm’s 50 day moving average price is $1.15 and its 200-day moving average price is $1.09.

Fuel Tech (NASDAQ:FTEK) last announced its quarterly earnings data on Monday, March 11th. The industrial products company reported ($0.02) EPS for the quarter, beating analysts’ consensus estimates of ($0.03) by $0.01. The business had revenue of $6.35 million during the quarter, compared to the consensus estimate of $6.90 million. Fuel Tech had a negative return on equity of 3.49% and a negative net margin of 5.68%. Equities analysts anticipate that Fuel Tech will post -0.03 earnings per share for the current year.

Fuel Tech Company Profile

Fuel Tech, Inc provides boiler optimization, efficiency improvement, and air pollution reduction and control solutions to utility and industrial customers worldwide. The company operates through Air Pollution Control Technology and FUEL CHEM Technology segments. The Air Pollution Control Technology segment offers technologies to reduce nitrogen oxide (NOx) emissions in flue gas from boilers, incinerators, furnaces, and other stationary combustion sources; NOxOUT and HERT selective non-catalytic reduction systems; selective catalytic reduction systems comprising ammonia injection grid, and graduated straightening grid systems; I-NOx systems; ESP Processes and Services; ULTRA technology; and flue gas conditioning systems.