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

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

Hedge Funds Weigh In On Fuel Tech

A hedge fund recently raised its stake in Fuel Tech stock. Renaissance Technologies LLC raised 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 filing with the SEC. The institutional investor owned 874,618 shares of the industrial products company’s stock after purchasing an additional 44,512 shares during the quarter. Renaissance Technologies LLC owned 2.88% of Fuel Tech worth $936,000 at the end of the most recent quarter. Institutional investors and hedge funds own 20.94% of the company’s stock.

Fuel Tech Stock Performance

Shares of Fuel Tech stock traded down $0.01 during midday trading on Wednesday, hitting $0.98. The company had a trading volume of 53,768 shares, compared to its average volume of 134,309. The company has a 50 day moving average of $1.03 and a 200 day moving average of $1.02. The stock has a market capitalization of $30.03 million, a P/E ratio of -48.90 and a beta of 4.10. Fuel Tech has a 52-week low of $0.91 and a 52-week high of $1.34.

Wall Street Analyst Weigh In

Separately, StockNews.com assumed coverage on shares of Fuel Tech in a research note on Wednesday. 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.