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

Fuel Tech, Inc. (NASDAQ:FTEK) was the recipient of a large 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 company’s stock are short sold. Based on an average daily volume of 78,300 shares, the days-to-cover ratio is currently 2.2 days.

Analyst Upgrades and Downgrades

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

Fuel Tech Price Performance

Shares of Fuel Tech stock remained flat at $1.03 on Monday. The company had a trading volume of 202,675 shares, compared to its average volume of 73,969. Fuel Tech has a 1 year low of $0.91 and a 1 year high of $1.34. The firm’s 50-day moving average is $1.02 and its two-hundred day moving average is $1.06. The firm has a market cap of $31.63 million, a P/E ratio of -51.50 and a beta of 4.13.

Hedge Funds Weigh In On Fuel Tech

A hedge fund recently raised its stake in Fuel Tech stock. Renaissance Technologies LLC boosted its position in shares of Fuel Tech, Inc. (NASDAQ:FTEK) by 5.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 874,618 shares of the industrial products company’s stock after buying an additional 44,512 shares during the period. Renaissance Technologies LLC owned 2.88% of Fuel Tech worth $936,000 at the end of the most recent quarter. Institutional investors 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.