Fuel Tech, Inc. (NASDAQ:FTEK) Short Interest Update

Fuel Tech, Inc. (NASDAQ:FTEK) was the recipient of a large drop in short interest during the month of October. As of October 31st, there was short interest totalling 170,900 shares, a drop of 11.3% from the October 15th total of 192,600 shares. Currently, 0.7% of the shares of the stock are sold short. Based on an average trading volume of 78,300 shares, the days-to-cover ratio is currently 2.2 days.

Fuel Tech Stock Performance

Shares of Fuel Tech stock traded up $0.01 on Tuesday, hitting $1.04. 32,280 shares of the company traded hands, compared to its average volume of 73,786. Fuel Tech has a 12-month low of $0.91 and a 12-month high of $1.34. The firm’s 50-day simple moving average is $1.02 and its 200 day simple moving average is $1.06.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Fuel Tech stock. Renaissance Technologies LLC lifted its position in Fuel Tech, Inc. (NASDAQ:FTEK) by 5.4% in the second quarter, according to 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 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. 20.94% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, StockNews.com initiated coverage on shares of Fuel Tech in a research report on Monday. They issued a “hold” rating on the stock.

Fuel Tech Company Profile

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.