Fuel Tech, Inc. (NASDAQ:FTEK) Short Interest Update

Fuel Tech, Inc. (NASDAQ:FTEK) was the target of a large increase in short interest in March. As of March 31st, there was short interest totalling 79,900 shares, an increase of 20.3% from the March 15th total of 66,400 shares. Based on an average daily trading volume, of 103,000 shares, the days-to-cover ratio is presently 0.8 days. Currently, 0.3% of the company’s stock are short sold.

Fuel Tech Stock Down 0.8 %

Shares of FTEK stock opened at $0.98 on Wednesday. Fuel Tech has a 12 month low of $0.87 and a 12 month high of $1.34. The company has a market cap of $30.17 million, a PE ratio of -49.13 and a beta of 4.11. The business’s 50 day moving average is $0.99 and its two-hundred day moving average is $1.01.

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). The firm had revenue of $5.28 million during the quarter, compared to analyst estimates of $5.63 million. Fuel Tech had a negative net margin of 2.29% and a negative return on equity of 1.37%. During the same quarter in the previous year, the business posted ($0.02) earnings per share. As a group, equities analysts expect that Fuel Tech will post -0.03 EPS for the current fiscal year.

Analyst Ratings Changes

A number of analysts have issued reports on the stock. StockNews.com started coverage on shares of Fuel Tech in a research note on Saturday. They issued a “hold” rating for the company. HC Wainwright reaffirmed a “buy” rating and issued a $4.00 price target on shares of Fuel Tech in a research report on Thursday, March 6th.

Hedge Funds Weigh In On Fuel Tech

Several large investors have recently made changes to their positions in FTEK. Peapod Lane Capital LLC acquired a new stake in Fuel Tech in the 4th quarter valued at approximately $1,027,000. Virtu Financial LLC acquired a new stake in shares of Fuel Tech in the fourth quarter worth $26,000. Renaissance Technologies LLC grew its stake in shares of 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 worth $1,092,000 after acquiring an additional 138,169 shares during the last quarter. XTX Topco Ltd bought a new position in Fuel Tech during the fourth quarter worth $27,000. Finally, Millennium Management LLC raised its stake in Fuel Tech by 70.1% during 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 during the last quarter. Institutional investors and hedge funds own 20.94% of the company’s stock.

About Fuel Tech

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.