Flotek Industries Inc. (FTK) Trading Up 4.6%
Flotek Industries Inc. (NYSE:FTK) was up 4.6% during trading on Monday . The company traded as high as $15.38 and last traded at $15.26, with a volume of 1,073,591 shares traded. The stock had previously closed at $14.59.
FTK has been the subject of a number of analyst reports. 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. 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. Finally, Stephens reaffirmed a “top pick” rating on shares of Flotek Industries in a research report on Friday, July 15th. One analyst has rated the stock with a sell rating, two have given a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. Flotek Industries has an average rating of “Buy” and an average price target of $12.98.
The firm’s market capitalization is $815.10 million. The firm’s 50-day moving average price is $13.92 and its 200-day moving average price is $10.38.
Flotek Industries (NYSE:FTK) last posted its quarterly earnings data on Tuesday, July 26th. The company reported ($0.04) EPS for the quarter, beating the Zacks’ 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. During the same period in the prior year, the company posted $0.02 earnings per share. The company’s revenue for the quarter was down 16.9% compared to the same quarter last year. On average, analysts forecast that Flotek Industries Inc. will post ($0.18) EPS for the current year.
Other large investors have recently bought and sold shares of the company. Wells Fargo & Company MN raised 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 worth $14,645,000 after buying an additional 500,321 shares in the last quarter. California Public Employees Retirement System raised 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 worth $2,756,000 after buying an additional 28,300 shares in the last quarter. Finally, Argent Capital Management LLC raised its stake in Flotek Industries by 1.6% in the fourth quarter. Argent Capital Management LLC now owns 178,639 shares of the company’s stock worth $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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