Fuel Tech, Inc. (NASDAQ:FTEK) Sees Significant Decrease in Short Interest

Fuel Tech, Inc. (NASDAQ:FTEK) was the target of a significant decrease in short interest in the month of November. As of November 30th, there was short interest totalling 64,900 shares, a decrease of 33.4% from the November 15th total of 97,500 shares. Approximately 0.3% of the shares of the 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.

Analysts Set New Price Targets

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

Fuel Tech Price Performance

NASDAQ:FTEK opened at $1.01 on Friday. The stock has a market cap of $31.02 million, a P/E ratio of -50.50 and a beta of 4.10. Fuel Tech has a one year low of $0.91 and a one year high of $1.34. The company has a fifty day moving average price of $1.03 and a 200 day moving average price of $1.04.

Hedge Funds Weigh In On Fuel Tech

An institutional investor recently raised its position in Fuel Tech stock. Renaissance Technologies LLC boosted its stake in shares of Fuel Tech, Inc. (NASDAQ:FTEK) by 5.4% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 874,618 shares of the industrial products company’s stock after acquiring an additional 44,512 shares during the quarter. Renaissance Technologies LLC owned approximately 2.88% of Fuel Tech worth $936,000 as of its most recent SEC filing. 20.94% of the stock is currently owned by institutional investors.

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.