Short Interest in Fuel Tech, Inc. (NASDAQ:FTEK) Decreases By 16.3%

Fuel Tech, Inc. (NASDAQ:FTEK) was the recipient of a large decline in short interest in the month of February. As of February 15th, there was short interest totalling 83,600 shares, a decline of 16.3% from the January 31st total of 99,900 shares. Based on an average daily volume of 143,000 shares, the short-interest ratio is presently 0.6 days. Currently, 0.4% of the shares of the company are short sold.

Fuel Tech Stock Performance

Shares of NASDAQ FTEK traded up $0.07 during mid-day trading on Wednesday, reaching $1.04. The company had a trading volume of 267,527 shares, compared to its average volume of 97,332. The firm has a market cap of $31.91 million, a price-to-earnings ratio of -50.75 and a beta of 4.07. The business’s 50-day simple moving average is $1.00 and its 200 day simple moving average is $1.02. Fuel Tech has a one year low of $0.89 and a one year high of $1.34.

Fuel Tech (NASDAQ:FTEK) last released its earnings results on Tuesday, March 4th. The industrial products company reported ($0.06) EPS for the quarter, missing the consensus estimate of ($0.03) by ($0.03). Fuel Tech had a negative net margin of 2.29% and a negative return on equity of 1.37%. The firm had revenue of $5.28 million during the quarter, compared to the consensus estimate of $5.63 million. During the same period in the prior year, the business earned ($0.02) earnings per share. On average, sell-side analysts anticipate that Fuel Tech will post -0.03 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in FTEK. Millennium Management LLC boosted its holdings in shares of Fuel Tech by 70.1% in the 4th quarter. Millennium Management LLC now owns 58,571 shares of the industrial products company’s stock valued at $62,000 after purchasing an additional 24,129 shares in the last quarter. XTX Topco Ltd bought a new stake in shares of Fuel Tech during the 4th quarter worth $27,000. Renaissance Technologies LLC boosted its stake in Fuel Tech by 15.3% in the fourth quarter. Renaissance Technologies LLC now owns 1,039,609 shares of the industrial products company’s stock valued at $1,092,000 after buying an additional 138,169 shares in the last quarter. Virtu Financial LLC bought a new position in Fuel Tech in the fourth quarter valued at about $26,000. Finally, Peapod Lane Capital LLC acquired a new position in Fuel Tech during the fourth quarter worth about $1,027,000. 20.94% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, StockNews.com assumed coverage on shares of Fuel Tech in a report on Sunday. They set a “hold” rating on the stock.

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.