Short Interest in Fuel Tech, Inc. (NASDAQ:FTEK) Declines By 11.3%

Fuel Tech, Inc. (NASDAQ:FTEK) was the recipient of a significant drop in short interest in October. As of October 31st, there was short interest totalling 170,900 shares, a drop of 11.3% from the October 15th total of 192,600 shares. Approximately 0.7% of the shares of the stock are sold short. Based on an average daily volume of 78,300 shares, the days-to-cover ratio is currently 2.2 days.

Institutional Trading of Fuel Tech

An institutional investor recently raised its position in Fuel Tech stock. Renaissance Technologies LLC lifted its holdings in Fuel Tech, Inc. (NASDAQ:FTEK) by 5.4% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 874,618 shares of the industrial products company’s stock after buying an additional 44,512 shares during the quarter. Renaissance Technologies LLC owned approximately 2.88% of Fuel Tech worth $936,000 at the end of the most recent quarter. Hedge funds and other institutional investors own 20.94% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, StockNews.com started coverage on Fuel Tech in a research report on Monday. They set a “hold” rating for the company.

Fuel Tech Stock Performance

Shares of NASDAQ:FTEK remained flat at $1.03 during trading on Monday. The company had a trading volume of 202,675 shares, compared to its average volume of 73,969. Fuel Tech has a 12-month low of $0.91 and a 12-month high of $1.34. The firm has a 50-day moving average of $1.02 and a 200-day moving average of $1.06. The firm has a market capitalization of $31.63 million, a P/E ratio of -51.50 and a beta of 4.13.

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. 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.