Fuel Tech Inc (NASDAQ:FTEK) Short Interest Down 42.2% in August

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Fuel Tech Inc (NASDAQ:FTEK) was the recipient of a significant decline in short interest during the month of August. As of August 15th, there was short interest totalling 106,300 shares, a decline of 42.2% from the July 15th total of 183,900 shares. Based on an average trading volume of 152,400 shares, the days-to-cover ratio is currently 0.7 days. Currently, 0.6% of the shares of the company are short sold.

A number of research analysts have weighed in on the stock. HC Wainwright reiterated a “buy” rating and issued a $1.75 target price on shares of Fuel Tech in a research note on Thursday, August 15th. Zacks Investment Research cut shares of Fuel Tech from a “buy” rating to a “hold” rating in a research note on Friday, May 17th. TheStreet cut shares of Fuel Tech from a “c-” rating to a “d+” rating in a research note on Thursday, July 25th. Finally, ValuEngine cut shares of Fuel Tech from a “buy” rating to a “hold” rating in a research note on Monday, July 29th.

Shares of NASDAQ FTEK traded down $0.02 during midday trading on Tuesday, hitting $0.82. The company’s stock had a trading volume of 170,800 shares, compared to its average volume of 190,952. The stock has a fifty day moving average price of $1.09 and a 200 day moving average price of $1.57. Fuel Tech has a one year low of $0.81 and a one year high of $3.06. The company has a current ratio of 3.00, a quick ratio of 2.97 and a debt-to-equity ratio of 0.03. The firm has a market capitalization of $20.08 million, a price-to-earnings ratio of 14.17 and a beta of 1.15.

Fuel Tech (NASDAQ:FTEK) last posted its quarterly earnings results on Tuesday, August 13th. The industrial products company reported ($0.02) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.02). Fuel Tech had a negative net margin of 0.57% and a positive return on equity of 4.35%. The company had revenue of $9.79 million for the quarter, compared to analyst estimates of $12.11 million. On average, equities research analysts predict that Fuel Tech will post -0.12 earnings per share for the current fiscal year.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Acadian Asset Management LLC raised its position in shares of Fuel Tech by 1,347.4% in the second quarter. Acadian Asset Management LLC now owns 155,583 shares of the industrial products company’s stock valued at $218,000 after purchasing an additional 144,834 shares during the period. US Bancorp DE raised its position in shares of Fuel Tech by 13.3% in the first quarter. US Bancorp DE now owns 243,476 shares of the industrial products company’s stock valued at $407,000 after purchasing an additional 28,616 shares during the period. River & Mercantile Asset Management LLP bought a new stake in shares of Fuel Tech in the second quarter valued at approximately $594,000. Vanguard Group Inc. raised its position in shares of Fuel Tech by 12.5% in the second quarter. Vanguard Group Inc. now owns 497,934 shares of the industrial products company’s stock valued at $697,000 after purchasing an additional 55,215 shares during the period. Finally, BlackRock Inc. raised its position in shares of Fuel Tech by 9.3% in the second quarter. BlackRock Inc. now owns 556,817 shares of the industrial products company’s stock valued at $780,000 after purchasing an additional 47,552 shares during the period. 25.91% of the stock is currently owned by institutional investors.

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. It 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 by low and ultra-low NOx burners; over-fire air systems; NOxOUT and HERT selective non-catalytic reduction systems; advanced selective catalytic reduction systems; NOxOUT CASCADE and NOxOUT-SCR processes; ULTRA technology; ammonia injection grid and graduated straightening grid systems; and flue gas conditioning systems.

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