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

Fuel Tech, Inc. (NASDAQ:FTEK) was the target of a large decrease in short interest in the month of October. As of October 31st, there was short interest totalling 170,900 shares, a decrease of 11.3% from the October 15th total of 192,600 shares. Based on an average daily volume of 78,300 shares, the days-to-cover ratio is presently 2.2 days. Currently, 0.7% of the company’s shares are sold short.

Hedge Funds Weigh In On Fuel Tech

An institutional investor recently raised its position in Fuel Tech stock. Renaissance Technologies LLC grew its holdings in shares of Fuel Tech, Inc. (NASDAQ:FTEK) by 5.4% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 874,618 shares of the industrial products company’s stock after purchasing an additional 44,512 shares during the period. Renaissance Technologies LLC owned about 2.88% of Fuel Tech worth $936,000 as of its most recent SEC filing. Institutional investors own 20.94% of the company’s stock.

Analyst Ratings Changes

Separately, StockNews.com initiated coverage on shares of Fuel Tech in a research report on Sunday, November 10th. They issued a “hold” rating on the stock.

Fuel Tech Stock Performance

Shares of NASDAQ:FTEK remained flat at $1.03 during mid-day trading on Friday. 238,512 shares of the company were exchanged, compared to its average volume of 88,289. Fuel Tech has a 1 year low of $0.91 and a 1 year high of $1.34. The company has a 50-day moving average price of $1.02 and a 200-day moving average price of $1.06.

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.