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

Fuel Tech, Inc. (NASDAQ:FTEK) was the recipient of a significant increase in short interest in the month of December. As of December 31st, there was short interest totalling 142,000 shares, an increase of 127.9% from the December 15th total of 62,300 shares. Based on an average daily volume of 122,700 shares, the days-to-cover ratio is presently 1.2 days. Currently, 0.6% of the company’s shares are sold short.

Analysts Set New Price Targets

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

Institutional Trading of Fuel Tech

A hedge fund recently raised its stake in Fuel Tech stock. Renaissance Technologies LLC increased its holdings in Fuel Tech, Inc. (NASDAQ:FTEK) by 5.4% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm 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 about 2.88% of Fuel Tech worth $936,000 as of its most recent filing with the Securities & Exchange Commission. 20.94% of the stock is owned by institutional investors.

Fuel Tech Stock Performance

FTEK stock traded down $0.03 on Tuesday, reaching $0.99. The company’s stock had a trading volume of 443,858 shares, compared to its average volume of 152,082. The business has a fifty day simple moving average of $1.04 and a two-hundred 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 $30.35 million, a PE ratio of -49.43 and a beta of 4.10.

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.