Flotek Industries (NYSE:FTK) Stock Passes Above Two Hundred Day Moving Average - Should You Sell?

Flotek Industries, Inc. (NYSE:FTK - Get Free Report) 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.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on FTK shares. Singular Research raised Flotek Industries to a "moderate buy" rating in a research note on Monday, March 17th. Alliance Global Partners began coverage on shares of Flotek Industries in a research note on Thursday, June 12th. They issued a "buy" rating and a $19.00 price target for the company. Northland Capmk raised Flotek Industries to a "hold" rating in a report on Tuesday, June 17th. Northland Securities began coverage on Flotek Industries in a research note on Tuesday, June 17th. They issued a "market perform" rating and a $16.00 price objective on the stock. Finally, Wall Street Zen lowered Flotek Industries from a "strong-buy" rating to a "buy" rating in a report on Saturday, June 14th. Two equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, Flotek Industries currently has an average rating of "Moderate Buy" and a consensus price target of $14.33.

Flotek Industries Stock Down 0.7%

The business's 50 day simple moving average is $12.61 and its 200 day simple moving average is $9.80. The company has a market capitalization of $434.74 million, a PE ratio of 32.37 and a beta of 1.39.

Flotek Industries (NYSE:FTK - Get Free Report) last posted its quarterly earnings data on Tuesday, May 6th. The oil and gas company reported $0.17 EPS for the quarter, topping analysts' consensus estimates of $0.06 by $0.11. The firm had revenue of $55.36 million during the quarter, compared to analyst estimates of $44.50 million. Flotek Industries had a net margin of 7.09% and a return on equity of 12.76%. On average, analysts anticipate that Flotek Industries, Inc. will post 0.29 earnings per share for the current fiscal year.

Insider Buying and Selling at Flotek Industries

In other news, Director Matthew Wilks purchased 103,514 shares of Flotek Industries stock in a transaction dated Monday, May 12th. The stock was acquired at an average cost of $12.24 per share, for a total transaction of $1,267,011.36. Following the acquisition, the director now directly owns 144,350 shares in the company, valued at $1,766,844. This represents a 253.49% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In the last quarter, insiders have purchased 149,766 shares of company stock worth $1,841,758. 3.02% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Flotek Industries

A number of large investors have recently bought and sold shares of the business. Informed Momentum Co LLC raised its holdings in Flotek Industries by 1.4% during the first quarter. Informed Momentum Co LLC now owns 100,105 shares of the oil and gas company's stock valued at $834,000 after buying an additional 1,380 shares in the last quarter. Jefferies Financial Group Inc. grew its holdings 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 purchasing an additional 1,581 shares during the last quarter. Bridgeway Capital Management LLC raised its position in shares of Flotek Industries by 5.2% in the fourth quarter. Bridgeway Capital Management LLC now owns 72,259 shares of the oil and gas company's stock valued at $689,000 after purchasing an additional 3,600 shares during the period. Tower Research Capital LLC TRC bought a new position in shares of Flotek Industries in the fourth quarter valued at approximately $42,000. Finally, Geode Capital Management LLC lifted its stake in shares of Flotek Industries by 1.7% in the fourth quarter. Geode Capital Management LLC now owns 302,539 shares of the oil and gas company's stock worth $2,885,000 after buying an additional 5,056 shares during the last quarter. 10.90% of the stock is currently owned by institutional investors.

Flotek Industries Company Profile

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).