Fuel Tech Inc (NASDAQ:FTEK) saw a significant decline in short interest in the month of June. As of June 30th, there was short interest totalling 189,900 shares, a decline of 32.9% from the May 30th total of 283,100 shares. Currently, 1.1% of the company’s shares are short sold. Based on an average daily volume of 291,600 shares, the short-interest ratio is presently 0.7 days.
A number of brokerages have recently weighed in on FTEK. HC Wainwright reiterated a “buy” rating on shares of Zynerba Pharmaceuticals in a report on Monday, March 18th. Zacks Investment Research upgraded HANNOVER RUECK/S from a “sell” rating to a “hold” rating in a report on Friday, May 17th. Finally, ValuEngine downgraded Zosano Pharma from a “buy” rating to a “hold” rating in a research note on Wednesday, May 1st.
A hedge fund recently raised its stake in Fuel Tech stock. US Bancorp DE grew its stake in Fuel Tech Inc (NASDAQ:FTEK) by 13.3% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 243,476 shares of the industrial products company’s stock after buying an additional 28,616 shares during the period. US Bancorp DE owned approximately 1.01% of Fuel Tech worth $407,000 as of its most recent SEC filing. 24.22% of the stock is currently owned by institutional investors.
NASDAQ FTEK traded up $0.02 on Friday, reaching $1.39. The stock had a trading volume of 100 shares, compared to its average volume of 104,593. The firm has a 50 day simple moving average of $1.47. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.70 and a quick ratio of 2.64. Fuel Tech has a 1 year low of $0.96 and a 1 year high of $3.06. The company has a market capitalization of $33.75 million, a P/E ratio of 136.00 and a beta of 1.18.
About Fuel Tech
Fuel Tech, Inc provides boiler optimization, efficiency improvement, and air pollution reduction and control solutions to utility and industrial customers worldwide. It 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 by low and ultra-low NOx burners; over-fire air systems; NOxOUT and HERT selective non-catalytic reduction systems; advanced selective catalytic reduction systems; NOxOUT CASCADE and NOxOUT-SCR processes; ULTRA technology; ammonia injection grid and graduated straightening grid systems; and flue gas conditioning systems.
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