Flotek Industries (NYSE:FTK) Stock Price Up 9.1% - Here's Why

Key Points

• Flotek Industries stock experienced a notable increase of 9.1%, reaching a last trading price of $16.87, despite a decrease in overall trading volume.
• Several analysts have recently upgraded their ratings on Flotek, with Northland Securities setting a target price of $16.00 and the average rating being a "Buy."
• The company reported significant quarterly earnings, with an EPS of $0.16 beating estimates, and set an optimistic guidance for FY 2025 earnings per share.

Flotek Industries, Inc. (NYSE:FTK - Get Free Report)'s share price traded up 9.1% during trading on Tuesday . The stock traded as high as $16.99 and last traded at $16.87. 327,675 shares were traded during trading, a decline of 18% from the average session volume of 399,580 shares. The stock had previously closed at $15.46.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. Northland Securities upgraded Flotek Industries from a "market perform" rating to an "outperform" rating and set a $16.00 target price for the company in a research note on Wednesday, August 6th. Wall Street Zen upgraded Flotek Industries from a "hold" rating to a "buy" rating in a research report on Monday, October 6th. Weiss Ratings reissued a "hold (c)" rating on shares of Flotek Industries in a research note on Wednesday, October 8th. Finally, Northland Capmk raised 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 issued a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, Flotek Industries currently has an average rating of "Buy" and an average target price of $14.33.

Flotek Industries Stock Performance

The business has a fifty day simple moving average of $13.29 and a two-hundred day simple moving average of $12.51. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.59 and a quick ratio of 1.36. The company has a market cap of $479.91 million, a PE ratio of 36.53 and a beta of 1.18.

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

Insider Activity at Flotek Industries

In other Flotek Industries news, CEO Ryan Gillis Ezell sold 87,187 shares of the company'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 completion of the transaction, the chief executive officer owned 156,855 shares in the company, valued at $1,923,042.30. This represents a 35.73% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO James Bond Clement sold 45,732 shares of the company's stock in a transaction on Wednesday, August 13th. The shares were sold at an average price of $12.74, for a total transaction of $582,625.68. Following the completion of the transaction, the chief financial officer owned 95,439 shares of the company's stock, valued at $1,215,892.86. This represents a 32.39% decrease in their position. The disclosure for this sale can be found here. 3.02% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Flotek Industries

Institutional investors have recently modified their holdings of the company. Geode Capital Management LLC lifted its stake in shares of Flotek Industries by 55.9% during the 2nd quarter. Geode Capital Management LLC now owns 485,413 shares of the oil and gas company's stock worth $7,167,000 after purchasing an additional 174,144 shares during the period. Acuitas Investments LLC lifted its holdings in Flotek Industries by 18.6% in the first quarter. Acuitas Investments LLC now owns 321,925 shares of the oil and gas company's stock worth $2,682,000 after acquiring an additional 50,584 shares during the last quarter. Invesco Ltd. acquired a new stake in shares of Flotek Industries in the second quarter valued at approximately $4,436,000. Truist Financial Corp grew its position in Flotek Industries by 11.7% in the second quarter. Truist Financial Corp now owns 263,182 shares of the oil and gas company's stock worth $3,885,000 after buying an additional 27,473 shares during the last quarter. Finally, S Squared Technology LLC acquired a new position in Flotek Industries in the 1st quarter worth approximately $2,170,000. Hedge funds and other institutional investors own 10.90% of the company's stock.

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).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.