Flotek Industries Inc. (FTK) Stock Price Down 4.2%
Shares of Flotek Industries Inc. (NYSE:FTK) traded down 4.2% during trading on Monday . The stock traded as low as $14.41 and last traded at $14.44, with a volume of 290,672 shares traded. The stock had previously closed at $15.08.
Several analysts recently commented on the stock. Zacks Investment Research upgraded shares of Flotek Industries from a “sell” rating to a “hold” rating in a report on Monday, August 8th. Stephens restated a “top pick” rating on shares of Flotek Industries in a report on Friday, July 15th. Finally, Seaport Global Securities upgraded shares of 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 assigned a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. The company has an average rating of “Buy” and an average price target of $12.98.
The firm’s market capitalization is $795.16 million. The stock’s 50 day moving average price is $14.08 and its 200-day moving average price is $10.50.
Flotek Industries (NYSE:FTK) last announced its quarterly earnings data on Tuesday, July 26th. The company reported ($0.04) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.10) by $0.06. The firm had revenue of $72.32 million for the quarter, compared to the consensus estimate of $65 million. During the same period in the prior year, the firm posted $0.02 earnings per share. The business’s revenue for the quarter was down 16.9% compared to the same quarter last year. On average, equities analysts predict that Flotek Industries Inc. will post ($0.18) EPS for the current fiscal year.
An institutional investor recently raised its position in Flotek Industries stock. Wells Fargo & Company MN increased its position in shares of Flotek Industries Inc. (NYSE:FTK) by 64.2% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,280,165 shares of the company’s stock after buying an additional 500,321 shares during the period. Wells Fargo & Company MN owned approximately 2.39% of Flotek Industries worth $14,645,000 at the end of the most recent 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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