Flotek Industries Inc. (NYSE:FTK) traded down 3% during trading on Monday . The company traded as low as $13.59 and last traded at $13.59, with a volume of 374,663 shares changing hands. The stock had previously closed at $14.01.

A number of equities research analysts have commented on the stock. Zacks Investment Research raised shares of Flotek Industries from a “strong sell” rating to a “hold” rating in a research report on Monday, June 27th. Seaport Global Securities raised shares of Flotek Industries from a “speculative buy” rating to a “buy” rating in a research report on Monday, May 9th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and five have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $12.98.

The firm has a 50 day moving average price of $12.72 and a 200 day moving average price of $9.33. The firm’s market capitalization is $736.91 million.

Flotek Industries (NYSE:FTK) last announced its quarterly earnings results on Tuesday, May 3rd. The company reported ($0.08) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.05) by $0.03. During the same quarter last year, the business posted ($0.03) earnings per share. The business had revenue of $72.20 million for the quarter, compared to analysts’ expectations of $70.50 million. The firm’s quarterly revenue was down 12.4% compared to the same quarter last year. On average, equities analysts forecast that Flotek Industries Inc. will post ($0.25) earnings per share for the current year.

Other hedge funds and institutional investors have made changes to their positions in the company. California State Teachers Retirement System boosted its position in shares of Flotek Industries by 1.6% in the fourth quarter. California State Teachers Retirement System now owns 99,138 shares of the company’s stock worth $1,134,000 after buying an additional 1,551 shares during the period. Jennison Associates boosted its position in shares of Flotek Industries by 1.4% in the third quarter. Jennison Associates now owns 2,078,383 shares of the company’s stock worth $34,709,000 after buying an additional 28,890 shares during the period. California Public Employees Retirement System boosted its position in shares of Flotek Industries by 13.3% in the fourth quarter. California Public Employees Retirement System now owns 240,900 shares of the company’s stock worth $2,756,000 after buying an additional 28,300 shares during the period. Morgan Stanley boosted its position in shares of Flotek Industries by 101.5% in the fourth quarter. Morgan Stanley now owns 161,057 shares of the company’s stock worth $1,844,000 after buying an additional 81,124 shares during the period. Finally, Wells Fargo & Company MN boosted its position in shares of Flotek Industries by 64.2% in the fourth quarter. Wells Fargo & Company MN now owns 1,280,165 shares of the company’s stock worth $14,645,000 after buying an additional 500,321 shares during the period.

Flotek Industries, Inc is a diversified, technology-driven company that develops and supplies oilfield products, services and equipment to the oil, gas and mining industries. The Company also develops and supplies compounds to companies that make cleaning products, cosmetics, food and beverages and other products for the consumer and industrial markets.

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