Fuel Tech, Inc. (NASDAQ:FTEK) Shares Shorted: Short Interest Down 42.9% in September

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

Wall Street Analysts Forecast Growth

FTEK has been the subject of a number of research analyst reports. Weiss Ratings reissued a “sell (d-)” rating on shares of Fuel Tech in a research report on Friday, September 11th. Zacks Research upgraded Fuel Tech from a “strong sell” rating to a “hold” rating in a report on Monday, October 5th. Finally, Wall Street Zen raised Fuel Tech from a “sell” rating to a “hold” rating in a research report on Saturday, September 5th. One analyst has rated the stock with a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Reduce”.

Institutional Investors Weigh In On Fuel Tech

Several large investors have recently bought and sold shares of the company. Group One Trading LLC acquired a new position in shares of Fuel Tech in the 2nd quarter valued at $31,000. BlackRock Inc. acquired a new stake in Fuel Tech during the 2nd quarter worth approximately $1,097,000. GSA Capital Partners LLP bought a new stake in shares of Fuel Tech during the second quarter worth $652,000. Marquette Asset Management LLC bought a new position in Fuel Tech during the 2nd quarter worth about $244,000. Finally, Renaissance Technologies LLC boosted its position in shares of 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 buying an additional 259,811 shares during the period. Institutional investors own 20.94% of the company’s stock.

Fuel Tech Stock Performance

Shares of FTEK stock traded down $0.04 during trading hours on Thursday, hitting $1.41. The company had a trading volume of 715,329 shares, compared to its average volume of 235,983. Fuel Tech has a 12 month low of $1.17 and a 12 month high of $3.45. The firm’s fifty day moving average is $1.57 and its 200 day moving average is $1.53. The firm has a market capitalization of $44.15 million, a price-to-earnings ratio of -12.86 and a beta of 1.28.

Fuel Tech (NASDAQ:FTEK) last posted its earnings results on Tuesday, August 4th. The industrial products company reported ($0.04) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $6.58 million. On average, sell-side analysts expect that Fuel Tech will post -0.13 EPS for the current fiscal year.

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.