Fuel Tech, Inc. (NASDAQ:FTEK) Short Interest Up 139.9% in June

Fuel Tech, Inc. (NASDAQ:FTEK) saw a significant growth in short interest during the month of June. As of June 30th, there was short interest totaling 199,073 shares, a growth of 139.9% from the June 15th total of 82,972 shares. Approximately 0.7% of the shares of the company are short sold. Based on an average daily trading volume, of 1,230,274 shares, the days-to-cover ratio is presently 0.2 days.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the stock. Zacks Research raised shares of Fuel Tech from a “strong sell” rating to a “hold” rating in a report on Monday, July 6th. Weiss Ratings raised shares of Fuel Tech from a “sell (e+)” rating to a “sell (d-)” rating in a report on Monday, June 15th. Finally, Wall Street Zen downgraded shares of Fuel Tech from a “hold” rating to a “sell” rating in a research report on Saturday, May 9th. One equities research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Reduce”.

Hedge Funds Weigh In On Fuel Tech

Several large investors have recently bought and sold shares of the stock. Advisory Services Network LLC lifted its stake in shares of Fuel Tech by 44.2% in the 3rd 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 during the period. State Street Corp increased its stake in shares of Fuel Tech by 7.1% during the fourth quarter. State Street Corp now owns 121,846 shares of the industrial products company’s stock valued at $190,000 after acquiring an additional 8,100 shares during the period. Group One Trading LLC increased its stake in shares of Fuel Tech by 26.1% during the fourth quarter. Group One Trading LLC now owns 42,509 shares of the industrial products company’s stock valued at $66,000 after acquiring an additional 8,803 shares during the period. Prelude Capital Management LLC bought a new stake in Fuel Tech during the third quarter worth approximately $40,000. Finally, Virtu Financial LLC bought a new stake in Fuel Tech during the fourth quarter worth approximately $27,000. Institutional investors and hedge funds own 20.94% of the company’s stock.

Fuel Tech Stock Down 1.3%

FTEK stock traded down $0.02 during trading on Tuesday, reaching $1.57. 18,556 shares of the company’s stock were exchanged, compared to its average volume of 268,077. Fuel Tech has a 1-year low of $1.17 and a 1-year high of $3.65. The firm has a market cap of $48.94 million, a PE ratio of -17.46 and a beta of 1.24. The company’s fifty day moving average price is $1.59 and its 200-day moving average price is $1.46.

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

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.