Fuel Tech Inc (NASDAQ:FTEK) was the recipient of a significant drop in short interest during the month of June. As of June 30th, there was short interest totalling 219,000 shares, a drop of 55.9% from the June 15th total of 496,900 shares. Currently, 1.3% of the company’s shares are sold short. Based on an average daily trading volume, of 863,600 shares, the days-to-cover ratio is presently 0.3 days.
NASDAQ FTEK opened at $0.88 on Tuesday. The company has a debt-to-equity ratio of 0.03, a current ratio of 4.39 and a quick ratio of 4.30. The stock has a market capitalization of $21.21 million, a PE ratio of -2.39 and a beta of 1.83. Fuel Tech has a 1 year low of $0.30 and a 1 year high of $1.49. The business’s 50-day moving average is $0.83 and its 200 day moving average is $0.75.
Fuel Tech (NASDAQ:FTEK) last posted its earnings results on Tuesday, May 12th. The industrial products company reported ($0.10) earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of ($0.10). The company had revenue of $3.78 million for the quarter, compared to analysts’ expectations of $4.77 million. Fuel Tech had a negative return on equity of 22.77% and a negative net margin of 36.62%. As a group, equities research analysts anticipate that Fuel Tech will post -0.18 earnings per share for the current year.
A hedge fund recently raised its stake in Fuel Tech stock. Renaissance Technologies LLC increased its holdings in Fuel Tech Inc (NASDAQ:FTEK) by 4.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,186,238 shares of the industrial products company’s stock after purchasing an additional 52,987 shares during the quarter. Renaissance Technologies LLC owned approximately 4.90% of Fuel Tech worth $1,127,000 as of its most recent filing with the Securities and Exchange Commission (SEC). Institutional investors own 24.29% of the company’s stock.
FTEK has been the topic of a number of recent research reports. HC Wainwright cut Fuel Tech from a “buy” rating to a “neutral” rating in a research note on Friday, March 13th. Zacks Investment Research cut Fuel Tech from a “buy” rating to a “hold” rating in a research note on Monday, June 8th.
About Fuel Tech
Fuel Tech, Inc provides boiler optimization, efficiency improvement, and air pollution reduction and control solutions to utility and industrial customers worldwide. It 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 by low and ultra-low NOx burners; over-fire air systems; NOxOUT and HERT selective non-catalytic reduction systems; advanced selective catalytic reduction systems; NOxOUT CASCADE and NOxOUT-SCR processes; ULTRA technology; ammonia injection grid and graduated straightening grid systems; and flue gas conditioning systems.
Further Reading: What is the CAC 40 Index?
Receive News & Ratings for Fuel Tech Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Fuel Tech and related companies with MarketBeat.com's FREE daily email newsletter.