Flotek Industries (NYSE:FTK) Stock Price Passes Above 200-Day Moving Average - What's Next?

Shares of Flotek Industries, Inc. (NYSE:FTK - Get Free Report) passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $10.23 and traded as high as $14.76. Flotek Industries shares last traded at $14.24, with a volume of 386,574 shares changing hands.

Analysts Set New Price Targets

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

Flotek Industries Stock Down 1.8%

The stock has a market cap of $425.06 million, a price-to-earnings ratio of 31.65 and a beta of 1.36. The company has a 50 day simple moving average of $14.01 and a 200-day simple moving average of $10.23.

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

Insider Transactions at Flotek Industries

In other news, Director Matthew Wilks purchased 13,040 shares of the firm's stock in a transaction on 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 directly owned 157,390 shares of the company's stock, valued at approximately $2,227,068.50. The trade was a 9.03% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have acquired 149,766 shares of company stock valued at $1,841,758 in the last three months. Corporate insiders own 3.02% of the company's stock.

Hedge Funds Weigh In On Flotek Industries

Several institutional investors have recently added to or reduced their stakes in the company. Informed Momentum Co LLC increased its holdings in Flotek Industries by 1.4% in 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 purchasing an additional 1,380 shares during the last quarter. Jefferies Financial Group Inc. increased its stake in shares of Flotek Industries by 3.2% in the 1st 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. Bridgeway Capital Management LLC increased its stake in shares of Flotek Industries by 5.2% in the 4th quarter. Bridgeway Capital Management LLC now owns 72,259 shares of the oil and gas company's stock valued at $689,000 after acquiring an additional 3,600 shares during the last quarter. Tower Research Capital LLC TRC bought a new stake in Flotek Industries in the fourth quarter valued at approximately $42,000. Finally, Geode Capital Management LLC increased its position in shares of Flotek Industries by 1.7% in the 4th quarter. Geode Capital Management LLC now owns 302,539 shares of the oil and gas company's stock valued at $2,885,000 after buying an additional 5,056 shares in the last quarter. 10.90% of the stock is 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).

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