Flotek Industries Inc. (FTK) Shares Down 4.2%
Flotek Industries Inc. (NYSE:FTK) dropped 4.2% on Monday . The stock traded as low as $14.41 and last traded at $14.44, with a volume of 290,672 shares trading hands. The stock had previously closed at $15.08.
FTK has been the subject of several research reports. Zacks Investment Research cut shares of Flotek Industries from a “hold” rating to a “strong sell” rating in a research report on Tuesday, April 26th. Seaport Global Securities upgraded shares of Flotek Industries from a “speculative buy” rating to a “buy” rating in a research report on Monday, May 9th. Finally, Stephens reiterated a “top pick” rating on shares of Flotek Industries in a research report on Friday, July 15th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, four have issued a buy rating and one has given a strong buy rating to the company’s stock. Flotek Industries has an average rating of “Buy” and a consensus price target of $12.98.
The firm’s market capitalization is $807.29 million. The company has a 50 day moving average of $14.12 and a 200 day moving average of $10.68.
Flotek Industries (NYSE:FTK) last posted 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 company earned $0.02 EPS. The company’s revenue for the quarter was down 16.9% compared to the same quarter last year. On average, equities analysts expect that Flotek Industries Inc. will post ($0.15) earnings per share for the current year.
A hedge fund recently raised its stake in Flotek Industries stock. California Public Employees Retirement System boosted its stake in Flotek Industries Inc. (NYSE:FTK) by 13.3% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 240,900 shares of the company’s stock after buying an additional 28,300 shares during the period. California Public Employees Retirement System owned approximately 0.45% of Flotek Industries worth $2,756,000 at the end of the most recent reporting period.
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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