Fuel Tech, Inc. (NASDAQ:FTEK) Sees Large Decline in Short Interest
by Scott Moore · The Cerbat GemFuel Tech, Inc. (NASDAQ:FTEK – Get Free Report) was the target of a significant decrease in short interest in January. As of January 15th, there was short interest totaling 170,284 shares, a decrease of 39.9% from the December 31st total of 283,130 shares. Currently, 0.6% of the company’s stock are short sold. Based on an average daily volume of 137,719 shares, the days-to-cover ratio is presently 1.2 days. Based on an average daily volume of 137,719 shares, the days-to-cover ratio is presently 1.2 days. Currently, 0.6% of the company’s stock are short sold.
Fuel Tech Stock Performance
Shares of NASDAQ:FTEK traded down $0.03 during trading on Friday, reaching $1.36. 208,729 shares of the stock traded hands, compared to its average volume of 147,005. The stock has a market cap of $42.26 million, a P/E ratio of -15.11 and a beta of 1.02. The stock has a 50-day moving average of $1.63 and a two-hundred day moving average of $2.38. Fuel Tech has a 52-week low of $0.87 and a 52-week high of $3.65.
Fuel Tech (NASDAQ:FTEK – Get Free Report) last released its quarterly earnings data on Tuesday, November 4th. The industrial products company reported $0.01 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.01. The business had revenue of $7.49 million for the quarter, compared to analysts’ expectations of $9.39 million. Fuel Tech had a negative return on equity of 7.29% and a negative net margin of 12.17%. Sell-side analysts expect that Fuel Tech will post -0.03 earnings per share for the current year.
Wall Street Analyst Weigh In
A number of brokerages recently issued reports on FTEK. Wall Street Zen raised shares of Fuel Tech from a “hold” rating to a “buy” rating in a research report on Saturday, December 6th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Fuel Tech in a research note on Wednesday. One investment analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $4.00.
View Our Latest Stock Report on FTEK
Institutional Investors Weigh In On Fuel Tech
Several large investors have recently bought and sold shares of FTEK. Vanguard Group Inc. raised its position in Fuel Tech by 7.7% in the 3rd quarter. Vanguard Group Inc. now owns 1,013,864 shares of the industrial products company’s stock worth $3,042,000 after buying an additional 72,895 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Fuel Tech by 3.6% in the second quarter. Geode Capital Management LLC now owns 517,658 shares of the industrial products company’s stock worth $1,305,000 after acquiring an additional 17,766 shares during the period. Mercuria Capital Strategies LLC purchased a new position in shares of Fuel Tech during the third quarter valued at approximately $720,000. Dimensional Fund Advisors LP bought a new position in Fuel Tech during the third quarter valued at approximately $163,000. Finally, Boothbay Fund Management LLC purchased a new stake in Fuel Tech in the third quarter worth approximately $124,000. 20.94% of the stock is currently owned by institutional investors.
About Fuel Tech
Fuel Tech, Inc (NASDAQ: FTEK) is a specialty technology and engineering company focused on developing and supplying clean air solutions for the power generation and industrial markets. The company designs, manufactures and markets proprietary chemical reagents and process control systems that help customers reduce emissions of nitrogen oxides (NOx), mercury and other air pollutants. Its technology platform combines advanced process modeling, plant optimization software and field testing services to help utilities and industrial facilities comply with environmental regulations and improve operational efficiency.
Fuel Tech’s core product lines include selective catalytic reduction (SCR) optimization systems, activated carbon injection solutions for mercury capture, and sorbent enhancement additives for flue gas desulfurization processes.