Short Interest in Fuel Tech, Inc. (NASDAQ:FTEK) Declines By 33.4%

Fuel Tech, Inc. (NASDAQ:FTEK) was the recipient of a large decline in short interest in November. As of November 30th, there was short interest totalling 64,900 shares, a decline of 33.4% from the November 15th total of 97,500 shares. Approximately 0.3% of the company’s stock are short sold. Based on an average daily trading volume, of 109,100 shares, the days-to-cover ratio is currently 0.6 days.

Institutional Investors Weigh In On Fuel Tech

An institutional investor recently raised its position in Fuel Tech stock. Renaissance Technologies LLC lifted its position in shares of Fuel Tech, Inc. (NASDAQ:FTEK) by 5.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund 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 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.

Analysts Set New Price Targets

Separately, StockNews.com started coverage on shares of Fuel Tech in a research report on Thursday. They set a “hold” rating on the stock.

Fuel Tech Price Performance

Shares of NASDAQ:FTEK opened at $1.02 on Friday. The company’s 50-day moving average price is $1.03 and its two-hundred day moving average price is $1.03. Fuel Tech has a one year low of $0.91 and a one year high of $1.34. The stock has a market capitalization of $31.32 million, a PE ratio of -51.00 and a beta of 4.10.

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.