Posted by admin on May 6th, 2022
Fuel Tech, Inc. (NASDAQ:FTEK – Get Rating) was the target of a significant drop in short interest in April. As of April 15th, there was short interest totalling 1,060,000 shares, a drop of 17.8% from the March 31st total of 1,290,000 shares. Currently, 4.6% of the shares of the stock are sold short. Based on an average daily volume of 184,300 shares, the short-interest ratio is presently 5.8 days.
Several hedge funds and other institutional investors have recently made changes to their positions in FTEK. PEAK6 Investments LLC bought a new position in shares of Fuel Tech during the third quarter worth $46,000. Goldman Sachs Group Inc. bought a new position in shares of Fuel Tech during the third quarter worth $49,000. Bank of America Corp DE bought a new position in shares of Fuel Tech during the fourth quarter worth $71,000. Marquette Asset Management LLC bought a new position in shares of Fuel Tech during the fourth quarter worth $76,000. Finally, Morgan Stanley boosted its position in shares of Fuel Tech by 1,444.9% during the first quarter. Morgan Stanley now owns 38,637 shares of the industrial products company’s stock worth $121,000 after purchasing an additional 36,136 shares in the last quarter. 18.69% of the stock is currently owned by institutional investors.
A number of analysts recently weighed in on FTEK shares. StockNews.com started coverage on shares of Fuel Tech in a report on Tuesday. They issued a “hold” rating for the company. Zacks Investment Research lowered shares of Fuel Tech from a “hold” rating to a “strong sell” rating in a report on Friday, March 11th. Finally, TheStreet lowered shares of Fuel Tech from a “c-” rating to a “d” rating in a report on Friday, March 18th.
FTEK opened at $1.36 on Friday. The company has a fifty day moving average price of $1.37 and a two-hundred day moving average price of $1.48. Fuel Tech has a 52 week low of $1.04 and a 52 week high of $3.22.
Fuel Tech (NASDAQ:FTEK – Get Rating) last released its earnings results on Tuesday, March 8th. The industrial products company reported ($0.01) EPS for the quarter. Fuel Tech had a return on equity of 0.12% and a net margin of 0.22%. The business had revenue of $6.45 million for the quarter, compared to analyst estimates of $7.09 million. During the same period in the prior year, the firm posted ($0.07) EPS. Equities analysts expect that Fuel Tech will post -0.06 EPS for the current year.
Fuel Tech Company Profile (Get Rating)
Fuel Tech, Inc provides boiler optimization, efficiency improvement, and air pollution reduction and control solutions to utility and industrial customers worldwide. It operates through two segments, Air Pollution Control Technology and FUEL CHEM Technology. 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; 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; and burner systems.
Receive News & Ratings for Fuel Tech Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Fuel Tech and related companies with MarketBeat.com's FREE daily email newsletter.
Analysts Expect The Hain Celestial Group, Inc. (NASDAQ:HAIN) to Announce $0.46 EPS
Starbucks (NASDAQ:SBUX) PT Lowered to $98.00 at MKM Partners