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

Fuel Tech, Inc. (NASDAQ:FTEK) was the target of a significant drop in short interest in November. As of November 30th, there was short interest totalling 64,900 shares, a drop of 33.4% from the November 15th total of 97,500 shares. Based on an average trading volume of 109,100 shares, the days-to-cover ratio is currently 0.6 days. Approximately 0.3% of the company’s stock are sold short.

Fuel Tech Trading Down 1.0 %

NASDAQ FTEK opened at $1.01 on Friday. The stock has a fifty day simple moving average of $1.03 and a 200-day simple moving average of $1.04. Fuel Tech has a twelve month low of $0.91 and a twelve month high of $1.34. The stock has a market cap of $31.02 million, a PE ratio of -50.50 and a beta of 4.10.

Analysts Set New Price Targets

Separately, StockNews.com began coverage on shares of Fuel Tech in a report on Thursday. They set a “hold” rating for the company.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Fuel Tech stock. Renaissance Technologies LLC boosted its position in Fuel Tech, Inc. (NASDAQ:FTEK) by 5.4% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 874,618 shares of the industrial products company’s stock after buying 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. 20.94% of the stock is owned by institutional investors.

About Fuel Tech

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.