Flotek Industries Inc. (FTK) Shares Down 3.6%
Flotek Industries Inc. (NYSE:FTK) shares were down 3.6% during mid-day trading on Tuesday . The company traded as low as $13.18 and last traded at $13.20, with a volume of 252,430 shares trading hands. The stock had previously closed at $13.70.
A number of research analysts recently issued reports on FTK shares. Zacks Investment Research upgraded shares of Flotek Industries from a “strong sell” rating to a “hold” rating in a research report on Monday, April 4th. 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 equities research analyst has rated the stock with a sell rating, two have given a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Flotek Industries presently has an average rating of “Buy” and a consensus target price of $12.98.
The firm’s market capitalization is $731.52 million. The stock’s 50-day moving average price is $13.10 and its 200 day moving average price is $9.47.
Flotek Industries (NYSE:FTK) last announced its quarterly earnings data on Tuesday, May 3rd. The company reported ($0.08) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.05) by $0.03. During the same period last year, the business earned ($0.03) earnings per share. The firm had revenue of $72.20 million for the quarter, compared to the consensus estimate of $70.50 million. The business’s quarterly revenue was down 12.4% compared to the same quarter last year. On average, equities analysts anticipate that Flotek Industries Inc. will post ($0.27) EPS for the current fiscal year.
Other large investors have recently bought and sold shares of the company. KBC Group NV purchased a new stake in Flotek Industries during the fourth quarter worth approximately $1,072,000. California State Teachers Retirement System raised its stake in Flotek Industries by 1.6% in the fourth quarter. California State Teachers Retirement System now owns 99,138 shares of the company’s stock worth $1,134,000 after buying an additional 1,551 shares in the last quarter. Morgan Stanley raised its stake in Flotek Industries by 101.5% in the fourth quarter. Morgan Stanley now owns 161,057 shares of the company’s stock worth $1,844,000 after buying an additional 81,124 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, 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.
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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