Flotek Industries Inc. (FTK) Stock Price Down 2.9%
Flotek Industries Inc. (NYSE:FTK) traded down 2.9% on Friday . The company traded as low as $14.12 and last traded at $14.46, with a volume of 1,208,067 shares trading hands. The stock had previously closed at $14.89.
A number of equities research analysts have weighed in on the company. Zacks Investment Research upgraded Flotek Industries from a “sell” rating to a “hold” rating in a research report on Monday. Stephens restated a “top pick” rating on shares of Flotek Industries in a research report on Friday, July 15th. Finally, Seaport Global Securities upgraded Flotek Industries from a “speculative buy” rating to a “buy” rating in a research report on Monday, May 9th. One analyst has rated the stock with a sell rating, two have given a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. Flotek Industries currently has an average rating of “Buy” and an average target price of $12.98.
The company’s market cap is $786.53 million. The stock’s 50-day moving average price is $13.74 and its 200 day moving average price is $10.12.
Flotek Industries (NYSE:FTK) last issued its earnings results on Tuesday, July 26th. The company reported ($0.04) earnings per share for the quarter, topping the consensus estimate of ($0.10) by $0.06. The firm earned $72.32 million during the quarter, compared to the consensus estimate of $65 million. The company’s quarterly revenue was down 16.9% on a year-over-year basis. During the same period in the prior year, the company posted $0.02 EPS. Equities analysts anticipate that Flotek Industries Inc. will post ($0.18) EPS for the current fiscal year.
A number of hedge funds and institutional investors have recently modified their holdings of FTK. Wells Fargo & Company MN increased 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 valued at $14,645,000 after buying an additional 500,321 shares in the last quarter. California Public Employees Retirement System increased 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 valued at $2,756,000 after buying an additional 28,300 shares in the last quarter. Finally, Argent Capital Management LLC increased its position in shares of Flotek Industries by 1.6% in the fourth quarter. Argent Capital Management LLC now owns 178,639 shares of the company’s stock valued at $2,044,000 after buying an additional 2,794 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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