Fuel Tech, Inc. (NASDAQ:FTEK) Short Interest Up 127.9% in January

Fuel Tech, Inc. (NASDAQ:FTEK) was the target of a significant growth in short interest in January. As of January 15th, there was short interest totalling 142,000 shares, a growth of 127.9% from the December 31st total of 62,300 shares. Approximately 0.6% of the shares of the stock are sold short. Based on an average daily volume of 122,700 shares, the short-interest ratio is currently 1.2 days.

Fuel Tech Stock Performance

NASDAQ:FTEK traded down $0.01 during trading hours on Friday, reaching $0.99. The company’s stock had a trading volume of 6,484 shares, compared to its average volume of 122,669. The firm has a 50-day simple moving average of $1.03 and a 200-day simple moving average of $1.02. Fuel Tech has a 1 year low of $0.91 and a 1 year high of $1.34. The firm has a market capitalization of $30.40 million, a price-to-earnings ratio of -49.50 and a beta of 4.10.

Institutional Investors Weigh In On Fuel Tech

A hedge fund recently raised its stake in Fuel Tech stock. Renaissance Technologies LLC lifted its position in shares of Fuel Tech, Inc. (NASDAQ:FTEK) by 5.4% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. 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 2.88% of Fuel Tech worth $936,000 as of its most recent SEC filing. 20.94% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, StockNews.com began coverage on Fuel Tech in a research note on Wednesday. They issued a “hold” rating for the company.

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.