Flotek Industries Inc. (FTK) Stock Price Down 3.9%
Shares of Flotek Industries Inc. (NYSE:FTK) dropped 3.9% on Monday . The company traded as low as $13.64 and last traded at $13.65, with a volume of 377,382 shares changing hands. The stock had previously closed at $14.20.
A number of analysts have commented on FTK shares. Stephens reaffirmed a “top pick” rating on shares of Flotek Industries in a research report on Friday, July 15th. 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. Finally, 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. Two analysts have rated the stock with a sell rating, one has issued a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $12.98.
The stock has a 50-day moving average price of $13.36 and a 200-day moving average price of $9.76. The company’s market cap is $747.18 million.
Flotek Industries (NYSE:FTK) last posted its quarterly earnings data on Tuesday, July 26th. The company reported ($0.04) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.10) by $0.06. The company had revenue of $72.32 million for the quarter, compared to the consensus estimate of $65 million. The business’s revenue was down 16.9% on a year-over-year basis. During the same period in the prior year, the firm posted $0.02 earnings per share. Equities analysts forecast that Flotek Industries Inc. will post ($0.24) earnings per share for the current fiscal year.
A number of institutional investors have modified their holdings of FTK. 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 last quarter. 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 last quarter. KBC Group NV acquired a new position in shares of Flotek Industries during the fourth quarter worth approximately $1,072,000. 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 last quarter. 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 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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