Fuel Tech Short Interest Down 36.5% in May (FTEK)
Fuel Tech (NASDAQ:FTEK) was the recipient of a large decrease in short interest in May. As of May 15th, there was short interest totalling 568,014 shares, a decrease of 36.5% from the April 30th total of 895,024 shares, American Banking News reports. Currently, 3.5% of the shares of the stock are sold short. Based on an average daily volume of 365,393 shares, the days-to-cover ratio is presently 1.6 days.
A number of analysts have recently weighed in on FTEK shares. Analysts at TheStreet downgraded shares of Fuel Tech from a “buy” rating to a “hold” rating in a research note on Tuesday, May 20th. Separately, analysts at Sidoti upgraded shares of Fuel Tech from a “neutral” rating to a “buy” rating in a research note on Friday, May 2nd. Finally, analysts at Zacks upgraded shares of Fuel Tech from a “neutral” rating to an “outperform” rating in a research note on Wednesday, April 30th. They now have a $6.20 price target on the stock.
Shares of Fuel Tech (NASDAQ:FTEK) opened at 5.57 on Thursday. Fuel Tech has a 52-week low of $3.55 and a 52-week high of $9.63. The stock’s 50-day moving average is $5.68 and its 200-day moving average is $6.43. The company has a market cap of $127.0 million and a price-to-earnings ratio of 30.72.
Fuel Tech (NASDAQ:FTEK) last announced its earnings results on Monday, May 12th. The company reported ($0.05) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.02 by $0.07. The company had revenue of $18.70 million for the quarter, compared to the consensus estimate of $22.75 million. The company’s revenue for the quarter was down 16.9% on a year-over-year basis. On average, analysts predict that Fuel Tech will post $0.10 earnings per share for the current fiscal year.
Fuel Tech, Inc (NASDAQ:FTEK) is an integrated company that uses a suite of advanced technologies to provide boiler optimization, improvement and air pollution reduction and control solutions to utility and industrial customers worldwide.
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