Fuel Tech, Inc. (NASDAQ:FTEK) Short Interest Down 40.5% in May

Fuel Tech, Inc. (NASDAQ:FTEK) was the recipient of a large drop in short interest during the month of May. As of May 29th, there was short interest totaling 63,708 shares, a drop of 40.5% from the May 14th total of 107,056 shares. Based on an average daily volume of 233,173 shares, the short-interest ratio is currently 0.3 days. Currently, 0.2% of the company’s shares are short sold.

Hedge Funds Weigh In On Fuel Tech

Several institutional investors have recently modified their holdings of FTEK. Virtu Financial LLC acquired a new position in shares of Fuel Tech in the fourth quarter worth $27,000. Prelude Capital Management LLC acquired a new position in shares of Fuel Tech in the third quarter worth $40,000. NewEdge Advisors LLC grew its stake in shares of Fuel Tech by 35,206.0% in the third quarter. NewEdge Advisors LLC now owns 17,653 shares of the industrial products company’s stock worth $53,000 after acquiring an additional 17,603 shares in the last quarter. Marshall Wace LLP acquired a new position in shares of Fuel Tech in the second quarter worth $63,000. Finally, Advisory Services Network LLC grew its stake in shares of Fuel Tech by 44.2% in the third quarter. Advisory Services Network LLC now owns 21,627 shares of the industrial products company’s stock worth $65,000 after acquiring an additional 6,627 shares in the last quarter. Institutional investors and hedge funds own 20.94% of the company’s stock.

Fuel Tech Stock Performance

Shares of NASDAQ:FTEK traded down $0.03 during trading on Monday, hitting $1.31. The company’s stock had a trading volume of 77,150 shares, compared to its average volume of 188,512. The business has a 50 day moving average price of $1.41 and a two-hundred day moving average price of $1.45. The company has a market capitalization of $40.83 million, a PE ratio of -14.55 and a beta of 1.33. Fuel Tech has a fifty-two week low of $1.17 and a fifty-two week high of $3.65.

Fuel Tech (NASDAQ:FTEK) last posted its quarterly earnings results on Tuesday, May 5th. The industrial products company reported ($0.04) EPS for the quarter. The business had revenue of $6.08 million during the quarter, compared to analyst estimates of $7.62 million. Fuel Tech had a negative return on equity of 7.34% and a negative net margin of 11.15%. As a group, equities analysts expect that Fuel Tech will post -0.12 earnings per share for the current fiscal year.

Analyst Ratings Changes

FTEK has been the subject of several research reports. Wall Street Zen downgraded shares of Fuel Tech from a “hold” rating to a “sell” rating in a report on Saturday, May 9th. Zacks Research downgraded shares of Fuel Tech from a “hold” rating to a “strong sell” rating in a report on Friday, May 8th. Finally, Weiss Ratings downgraded shares of Fuel Tech from a “sell (d-)” rating to a “sell (e+)” rating in a report on Monday, June 1st. Two research analysts have rated the stock with a Sell rating, According to data from MarketBeat.com, the company currently has a consensus rating of “Sell”.

Fuel Tech Company Profile

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.