Fuel Tech, Inc. (NASDAQ:FTEK) Short Interest Down 16.3% in February

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

Wall Street Analyst Weigh In

FTEK has been the topic of a number of recent research reports. HC Wainwright reissued a “buy” rating and issued a $4.00 target price on shares of Fuel Tech in a report on Thursday. StockNews.com began coverage on Fuel Tech in a research report on Sunday, March 2nd. They set a “hold” rating for the company.

Hedge Funds Weigh In On Fuel Tech

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

Fuel Tech Stock Performance

Shares of FTEK opened at $1.01 on Friday. The firm has a fifty day moving average of $1.00 and a 200-day moving average of $1.02. The company has a market cap of $30.86 million, a price-to-earnings ratio of -50.25 and a beta of 4.07. Fuel Tech has a 1 year low of $0.87 and a 1 year high of $1.34.

Fuel Tech (NASDAQ:FTEK) last posted its earnings results on Tuesday, March 4th. The industrial products company reported ($0.06) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $5.63 million. During the same period in the previous year, the firm earned ($0.02) earnings per share. Analysts predict that Fuel Tech will post -0.03 EPS for the current year.

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.