Fuel Tech Inc (NASDAQ:FTEK) Sees Large Drop in Short Interest

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Fuel Tech Inc (NASDAQ:FTEK) was the target of a significant decline in short interest in the month of August. As of August 31st, there was short interest totalling 66,700 shares, a decline of 37.3% from the July 31st total of 106,300 shares. Currently, 0.4% of the shares of the company are sold short. Based on an average daily trading volume, of 114,000 shares, the short-interest ratio is presently 0.6 days.

Shares of NASDAQ:FTEK traded down $0.05 on Friday, hitting $1.02. 17,300 shares of the company were exchanged, compared to its average volume of 183,601. Fuel Tech has a 1-year low of $0.80 and a 1-year high of $3.06. The stock’s 50 day moving average price is $0.98 and its 200 day moving average price is $1.55. 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 $25.64 million, a P/E ratio of 17.67 and a beta of 1.24.

Fuel Tech (NASDAQ:FTEK) last posted its quarterly earnings data on Tuesday, August 13th. The industrial products company reported ($0.02) EPS for the quarter, hitting the Thomson Reuters’ 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 business had revenue of $9.79 million during the quarter, compared to the consensus estimate of $12.11 million. On average, equities analysts predict that Fuel Tech will post -0.05 EPS for the current fiscal year.

Several equities research analysts have recently commented on FTEK shares. TheStreet downgraded shares of Fuel Tech from a “c-” rating to a “d+” rating in a research note on Thursday, July 25th. ValuEngine upgraded shares of Fuel Tech from a “hold” rating to a “buy” rating in a research note on Friday, September 6th. HC Wainwright reiterated a “buy” rating and set a $1.75 price objective on shares of Fuel Tech in a research note on Thursday, August 15th. Finally, Zacks Investment Research downgraded shares of Fuel Tech from a “buy” rating to a “hold” rating in a research note on Friday, May 17th.

Several institutional investors have recently modified their holdings of FTEK. Acadian Asset Management LLC raised its holdings in shares of Fuel Tech by 1,347.4% during the second quarter. Acadian Asset Management LLC now owns 155,583 shares of the industrial products company’s stock worth $218,000 after purchasing an additional 144,834 shares during the last quarter. US Bancorp DE raised its holdings in shares of Fuel Tech by 13.3% during the first quarter. US Bancorp DE now owns 243,476 shares of the industrial products company’s stock worth $407,000 after purchasing an additional 28,616 shares during the last quarter. River & Mercantile Asset Management LLP purchased a new position in shares of Fuel Tech during the second quarter worth $594,000. Vanguard Group Inc. raised its holdings in shares of Fuel Tech by 12.5% during the second quarter. Vanguard Group Inc. now owns 497,934 shares of the industrial products company’s stock worth $697,000 after purchasing an additional 55,215 shares during the last quarter. Finally, BlackRock Inc. raised its holdings in shares of Fuel Tech by 9.3% during the second quarter. BlackRock Inc. now owns 556,817 shares of the industrial products company’s stock worth $780,000 after purchasing an additional 47,552 shares during the last quarter. 28.41% of the stock is owned by hedge funds and other institutional investors.

About Fuel Tech

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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