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

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

Fuel Tech Trading Up 1.4 %

FTEK traded up $0.01 during trading on Thursday, hitting $1.01. The stock had a trading volume of 23,923 shares, compared to its average volume of 130,967. The company has a 50 day simple moving average of $1.04 and a 200-day simple moving average of $1.03. Fuel Tech has a 12 month low of $0.91 and a 12 month high of $1.34. The firm has a market cap of $30.89 million, a PE ratio of -50.30 and a beta of 4.10.

Institutional Trading of Fuel Tech

A hedge fund recently raised its stake in Fuel Tech stock. Renaissance Technologies LLC lifted its stake in Fuel Tech, Inc. (NASDAQ:FTEK) by 5.4% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 874,618 shares of the industrial products company’s stock after buying an additional 44,512 shares during the period. Renaissance Technologies LLC owned about 2.88% of Fuel Tech worth $936,000 at the end of the most recent reporting period. 20.94% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, StockNews.com began coverage on Fuel Tech in a research note on Monday. They set a “hold” rating on the stock.

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.