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

Key Points

• Fuel Tech’s short interest surged 166.3% to 362,655 shares as of September 15, representing about 1.3% of shares outstanding and a short-interest ratio of 1.2 days.
• The company reported a quarterly loss of $0.04 per share, missing estimates by $0.02, while revenue of $6.49 million also fell slightly short of expectations. Analysts expect a full-year loss of approximately $0.13 per share.
• Fuel Tech shares opened at $1.72, with a market capitalization of $53.54 million; the stock carries an overall “Sell” rating, despite institutional investors owning 20.94% of outstanding shares.

Fuel Tech, Inc. (NASDAQ:FTEK - Get Free Report) was the target of a significant increase in short interest in September. As of September 15th, there was short interest totaling 362,655 shares, an increase of 166.3% from the August 31st total of 136,160 shares. Based on an average daily volume of 308,187 shares, the short-interest ratio is currently 1.2 days. Approximately 1.3% of the shares of the stock are sold short.

Fuel Tech Stock Performance

Shares of Fuel Tech stock opened at $1.72 on Friday. The firm has a market capitalization of $53.54 million, a PE ratio of -15.59 and a beta of 1.30. The firm's 50 day moving average is $1.53 and its 200 day moving average is $1.49. Fuel Tech has a 1 year low of $1.17 and a 1 year high of $3.45.

Fuel Tech (NASDAQ:FTEK - Get Free Report) last released its quarterly earnings data on Tuesday, August 4th. The industrial products company reported ($0.04) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.02) by ($0.02). Fuel Tech had a negative return on equity of 8.88% and a negative net margin of 12.75%.The company had revenue of $6.49 million for the quarter, compared to analyst estimates of $6.58 million. As a group, research analysts anticipate that Fuel Tech will post -0.13 earnings per share for the current year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Grace & White Inc. NY lifted its holdings in Fuel Tech by 3.7% during the 1st quarter. Grace & White Inc. NY now owns 1,541,307 shares of the industrial products company's stock worth $1,880,000 after buying an additional 55,424 shares during the period. Renaissance Technologies LLC increased its stake in shares of Fuel Tech by 22.6% in the first quarter. Renaissance Technologies LLC now owns 1,407,806 shares of the industrial products company's stock valued at $1,718,000 after buying an additional 259,811 shares during the period. BlackRock Inc. acquired a new stake in shares of Fuel Tech in the second quarter valued at about $1,097,000. GSA Capital Partners LLP bought a new position in shares of Fuel Tech during the second quarter worth about $652,000. Finally, Marquette Asset Management LLC bought a new position in shares of Fuel Tech during the second quarter worth about $244,000. 20.94% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. Weiss Ratings restated a "sell (d-)" rating on shares of Fuel Tech in a research note on Friday, September 11th. Zacks Research lowered Fuel Tech from a "hold" rating to a "strong sell" rating in a research note on Friday, August 7th. Finally, Wall Street Zen raised Fuel Tech from a "sell" rating to a "hold" rating in a report on Saturday, September 5th. Two equities research analysts have rated the stock with a Sell rating, Based on data from MarketBeat, Fuel Tech currently has an average rating of "Sell".

Fuel Tech Company Profile

Fuel Tech, Inc NASDAQ: FTEK develops and commercializes technologies designed to improve industrial combustion processes and reduce air pollution. Its solutions are used primarily by utility, industrial, refining, cement, steel, and waste-to-energy facilities.

The company's Air Pollution Control technologies address nitrogen oxide (NOx) emissions from combustion sources. Its offerings include selective non-catalytic reduction and related systems, including the NOxOUT and HERT technologies, which are designed to help customers meet environmental regulations while maintaining operating efficiency.

Fuel Tech also provides fuel-treatment and combustion-optimization products through its FUEL CHEM business.

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