Flotek Industries Inc. (FTK) Stock Price Up 3.8%
Flotek Industries Inc. (NYSE:FTK) shares rose 3.8% on Monday . The company traded as high as $15.69 and last traded at $15.49, with a volume of 544,014 shares. The stock had previously closed at $14.92.
FTK has been the topic of a number of research reports. Stephens reaffirmed a “top pick” rating on shares of Flotek Industries in a research note on Friday, July 15th. Seaport Global Securities raised Flotek Industries from a “speculative buy” rating to a “buy” rating in a research note on Monday, May 9th. Finally, Zacks Investment Research downgraded Flotek Industries from a “hold” rating to a “sell” rating in a research note on Tuesday, August 2nd. One investment analyst has rated the stock with a sell rating, two have given a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. Flotek Industries has an average rating of “Buy” and a consensus target price of $12.98.
The company’s market capitalization is $817.26 million. The company has a 50 day moving average price of $13.65 and a 200 day moving average price of $10.05.
Flotek Industries (NYSE:FTK) last announced its quarterly earnings data on Tuesday, July 26th. The company reported ($0.04) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.10) by $0.06. During the same period last year, the business posted $0.02 earnings per share. The company had revenue of $72.32 million for the quarter, compared to the consensus estimate of $65 million. The firm’s quarterly revenue was down 16.9% compared to the same quarter last year. On average, equities research analysts predict that Flotek Industries Inc. will post ($0.18) earnings per share for the current fiscal year.
Other hedge funds have bought and sold shares of the company. California Public Employees Retirement System boosted its stake in 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 during the last quarter. KBC Group NV acquired a new stake in Flotek Industries during the fourth quarter valued at about $1,072,000. Finally, Wells Fargo & Company MN boosted its stake in 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 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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