Fuel Tech, Inc. (NASDAQ:FTEK – Get Free Report) was the recipient of a large growth in short interest during the month of December. As of December 31st, there was short interest totalling 142,000 shares, a growth of 127.9% from the December 15th total of 62,300 shares. Currently, 0.6% of the company’s stock are sold short. Based on an average trading volume of 122,700 shares, the days-to-cover ratio is presently 1.2 days.
Institutional Inflows and Outflows
An institutional investor recently raised its position in Fuel Tech stock. Renaissance Technologies LLC increased its stake in Fuel Tech, Inc. (NASDAQ:FTEK – Free Report) by 5.4% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 874,618 shares of the industrial products company’s stock after purchasing an additional 44,512 shares during the period. Renaissance Technologies LLC owned approximately 2.88% of Fuel Tech worth $936,000 as of its most recent SEC filing. Hedge funds and other institutional investors own 20.94% of the company’s stock.
Fuel Tech Price Performance
Shares of FTEK traded down $0.03 during midday trading on Tuesday, hitting $0.99. 443,858 shares of the company traded hands, compared to its average volume of 152,082. The stock has a 50-day moving average of $1.04 and a 200-day moving average of $1.03. Fuel Tech has a one year low of $0.91 and a one year high of $1.34. The firm has a market cap of $30.35 million, a P/E ratio of -49.43 and a beta of 4.10.
Wall Street Analysts Forecast Growth
View Our Latest Research Report on FTEK
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.
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