Flotek Industries (NYSE:FTK) Share Price Passes Above 200-Day Moving Average - Time to Sell?

Key Points

• Flotek Industries shares recently traded above their 200-day moving average, reaching a high of $16.14 and currently standing at $15.15.
• Analysts have a consensus rating of Buy for the stock, with Northland Securities setting a target price of $16.00.
• The company reported strong quarterly earnings, with an EPS of $0.16 surpassing estimates, contributing to positive sentiment among investors.

Flotek Industries, Inc. (NYSE:FTK - Get Free Report) shares crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $12.34 and traded as high as $16.14. Flotek Industries shares last traded at $15.15, with a volume of 227,447 shares.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. Northland Securities raised Flotek Industries from a "market perform" rating to an "outperform" rating and set a $16.00 price objective on the stock in a report on Wednesday, August 6th. Wall Street Zen upgraded Flotek Industries from a "hold" rating to a "buy" rating in a research note on Monday, October 6th. Weiss Ratings restated a "hold (c)" rating on shares of Flotek Industries in a research note on Wednesday, October 8th. Finally, Northland Capmk upgraded Flotek Industries from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, August 6th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has assigned a Hold rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Buy" and a consensus target price of $14.33.

Flotek Industries Trading Down 3.6%

The company has a market capitalization of $452.38 million, a P/E ratio of 34.43 and a beta of 1.18. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.36 and a current ratio of 1.59. The stock has a fifty day moving average of $13.24 and a 200 day moving average of $12.34.

Flotek Industries (NYSE:FTK - Get Free Report) last issued its quarterly earnings results on Tuesday, August 5th. The oil and gas company reported $0.16 EPS for the quarter, topping analysts' consensus estimates of $0.13 by $0.03. Flotek Industries had a return on equity of 17.67% and a net margin of 6.59%.The business had revenue of $58.35 million during the quarter, compared to analysts' expectations of $52.40 million. Flotek Industries has set its FY 2025 guidance at EPS. As a group, equities research analysts anticipate that Flotek Industries, Inc. will post 0.29 EPS for the current fiscal year.

Insider Buying and Selling at Flotek Industries

In other Flotek Industries news, CEO Ryan Gillis Ezell sold 87,187 shares of the business's stock in a transaction on Thursday, August 14th. The shares were sold at an average price of $12.26, for a total value of $1,068,912.62. Following the sale, the chief executive officer owned 156,855 shares in the company, valued at $1,923,042.30. The trade was a 35.73% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO James Bond Clement sold 45,732 shares of the business's stock in a transaction on Wednesday, August 13th. The stock was sold at an average price of $12.74, for a total transaction of $582,625.68. Following the completion of the sale, the chief financial officer owned 95,439 shares in the company, valued at approximately $1,215,892.86. The trade was a 32.39% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 3.02% of the company's stock.

Institutional Trading of Flotek Industries

Several hedge funds have recently made changes to their positions in the business. Informed Momentum Co LLC raised its position in Flotek Industries by 1.4% in the 1st quarter. Informed Momentum Co LLC now owns 100,105 shares of the oil and gas company's stock worth $834,000 after purchasing an additional 1,380 shares during the period. Jefferies Financial Group Inc. lifted its position in Flotek Industries by 3.2% during the first quarter. Jefferies Financial Group Inc. now owns 51,581 shares of the oil and gas company's stock valued at $430,000 after acquiring an additional 1,581 shares during the last quarter. Ritholtz Wealth Management lifted its position in Flotek Industries by 3.7% during the second quarter. Ritholtz Wealth Management now owns 81,027 shares of the oil and gas company's stock valued at $1,196,000 after acquiring an additional 2,901 shares during the last quarter. Police & Firemen s Retirement System of New Jersey purchased a new stake in Flotek Industries during the second quarter valued at approximately $50,000. Finally, New York State Common Retirement Fund purchased a new position in shares of Flotek Industries in the second quarter worth $102,000. 10.90% of the stock is currently owned by hedge funds and other institutional investors.

About Flotek Industries

Flotek Industries, Inc operates as a technology-driven green chemistry and data company that serves customers across industrial and commercial markets in the United States, the United Arab Emirates, and internationally. It operates through two segments: Chemistry Technologies (CT) and Data Analytics (DA).

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