Flotek Industries, Inc. (NYSE:FTK - Get Free Report)'s stock price crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $9.80 and traded as high as $14.68. Flotek Industries shares last traded at $14.67, with a volume of 473,841 shares.
Analyst Ratings Changes
FTK has been the subject of several analyst reports. Wall Street Zen cut Flotek Industries from a "strong-buy" rating to a "buy" rating in a report on Saturday, June 14th. Northland Capmk upgraded Flotek Industries to a "hold" rating in a research report on Tuesday, June 17th. Alliance Global Partners initiated coverage on shares of Flotek Industries in a research report on Thursday, June 12th. They set a "buy" rating and a $19.00 price objective for the company. Singular Research upgraded shares of Flotek Industries to a "moderate buy" rating in a research note on Monday, March 17th. Finally, Northland Securities initiated coverage on shares of Flotek Industries in a research report on Tuesday, June 17th. They issued a "market perform" rating and a $16.00 target price for the company. Two investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $14.33.
Check Out Our Latest Stock Report on FTK
Flotek Industries Stock Performance
The company has a market cap of $445.06 million, a price-to-earnings ratio of 33.13 and a beta of 1.38. The business has a fifty day moving average price of $12.93 and a 200 day moving average price of $9.92.
Flotek Industries (NYSE:FTK - Get Free Report) last posted its quarterly earnings results on Tuesday, May 6th. The oil and gas company reported $0.17 earnings per share for the quarter, beating analysts' consensus estimates of $0.06 by $0.11. The company had revenue of $55.36 million for the quarter, compared to the consensus estimate of $44.50 million. Flotek Industries had a net margin of 7.09% and a return on equity of 12.76%. As a group, equities analysts anticipate that Flotek Industries, Inc. will post 0.29 EPS for the current year.
Insiders Place Their Bets
In related news, Director Matthew Wilks purchased 13,040 shares of the stock in a transaction dated Wednesday, May 14th. The stock was bought at an average cost of $14.15 per share, for a total transaction of $184,516.00. Following the completion of the acquisition, the director owned 157,390 shares of the company's stock, valued at approximately $2,227,068.50. This represents a 9.03% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders have purchased a total of 149,766 shares of company stock valued at $1,841,758 in the last quarter. Company insiders own 3.02% of the company's stock.
Institutional Investors Weigh In On Flotek Industries
Several hedge funds have recently modified their holdings of the company. Tower Research Capital LLC TRC acquired a new position in Flotek Industries in the 4th quarter worth about $42,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Flotek Industries in the fourth quarter valued at approximately $57,000. Kathmere Capital Management LLC bought a new position in Flotek Industries in the 1st quarter valued at approximately $85,000. Victory Capital Management Inc. bought a new position in Flotek Industries in the 1st quarter valued at approximately $96,000. Finally, Balyasny Asset Management L.P. acquired a new stake in Flotek Industries during the 4th quarter worth approximately $99,000. Institutional investors and hedge funds own 10.90% of the company's stock.
About Flotek Industries
(
Get Free Report)
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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