Flotek Industries Inc. (NYSE:FTK)’s share price shot up 5.8% during trading on Tuesday . The company traded as high as $14.67 and last traded at $14.49, with a volume of 645,469 shares changing hands. The stock had previously closed at $13.69.

A number of brokerages have commented on FTK. Zacks Investment Research cut Flotek Industries from a “hold” rating to a “strong sell” rating in a report on Tuesday, April 26th. Seaport Global Securities raised Flotek Industries from a “speculative buy” rating to a “buy” rating in a report on Monday, May 9th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and five have assigned a buy rating to the company. The stock has an average rating of “Buy” and an average price target of $12.98.

The firm’s market capitalization is $739.06 million. The firm has a 50-day moving average of $12.90 and a 200 day moving average of $9.38.

Flotek Industries (NYSE:FTK) last announced its quarterly earnings data on Tuesday, May 3rd. The company reported ($0.08) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.05) by $0.03. The firm had revenue of $72.20 million for the quarter, compared to the consensus estimate of $70.50 million. The firm’s revenue for the quarter was down 12.4% on a year-over-year basis. During the same period in the previous year, the company earned ($0.03) earnings per share. Equities research analysts anticipate that Flotek Industries Inc. will post ($0.25) EPS for the current fiscal year.

Several hedge funds recently made changes to their positions in FTK. Wells Fargo & Company MN boosted its stake 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 valued at $14,645,000 after buying an additional 500,321 shares in the last quarter. Morgan Stanley boosted its stake in shares of Flotek Industries by 101.5% in the fourth quarter. Morgan Stanley now owns 161,057 shares of the company’s stock valued at $1,844,000 after buying an additional 81,124 shares in the last quarter. California Public Employees Retirement System boosted its stake 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 valued at $2,756,000 after buying an additional 28,300 shares in the last quarter. California State Teachers Retirement System boosted its stake 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 valued at $1,134,000 after buying an additional 1,551 shares in the last quarter. Finally, Jennison Associates boosted its stake 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 valued at $34,709,000 after buying an additional 28,890 shares in the last quarter.

Flotek Industries, Inc is a technology-driven company that develops and supplies oilfield products, services and equipment to the oil, gas and mining industries. The Company has four business segments: Energy Chemistry Technologies, Consumer and Industrial Chemical Technologies, Drilling Technologies, and Production Technologies.

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