Flotek Industries, Inc. (NYSE:FTK) Short Interest Update

Flotek Industries, Inc. (NYSE:FTK) was the recipient of a significant growth in short interest during the month of September. As of September 15th, there was short interest totalling 533,900 shares, a growth of 7.3% from the August 31st total of 497,600 shares. Approximately 1.9% of the shares of the company are short sold. Based on an average daily trading volume, of 112,000 shares, the days-to-cover ratio is presently 4.8 days.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Sanders Morris Harris LLC purchased a new position in Flotek Industries in the 1st quarter valued at about $223,000. Masters Capital Management LLC lifted its stake in Flotek Industries by 44.4% in the 4th quarter. Masters Capital Management LLC now owns 481,476 shares of the oil and gas company’s stock valued at $1,887,000 after buying an additional 148,140 shares in the last quarter. Finally, Vanguard Group Inc. lifted its stake in Flotek Industries by 7.9% in the 1st quarter. Vanguard Group Inc. now owns 545,246 shares of the oil and gas company’s stock valued at $2,039,000 after buying an additional 39,695 shares in the last quarter. 10.90% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have commented on FTK. Roth Mkm began coverage on shares of Flotek Industries in a report on Thursday, July 25th. They issued a “buy” rating and a $6.50 price target on the stock. Roth Capital raised Flotek Industries to a “strong-buy” rating in a research report on Thursday, July 25th. One research analyst has rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $6.75.

Flotek Industries Stock Performance

Shares of FTK opened at $4.75 on Wednesday. The business’s 50-day moving average is $4.44 and its two-hundred day moving average is $4.19. The company has a market capitalization of $140.87 million, a P/E ratio of 118.75 and a beta of 1.03. Flotek Industries has a fifty-two week low of $2.64 and a fifty-two week high of $5.61.

Flotek Industries (NYSE:FTK) last posted its earnings results on Tuesday, August 6th. The oil and gas company reported $0.06 EPS for the quarter, meeting analysts’ consensus estimates of $0.06. The firm had revenue of $46.15 million for the quarter, compared to analysts’ expectations of $46.60 million. Flotek Industries had a return on equity of 6.73% and a net margin of 3.94%. During the same period last year, the firm earned ($0.24) EPS. Analysts forecast that Flotek Industries will post 0.27 EPS for the current year.

About Flotek Industries

Flotek Industries, Inc operates as a technology-driven green chemistry and data company that serves customers across industrial and commercial markets in the United States, the United Arab Emirates, and internationally. It operates through two segments: Chemistry Technologies (CT) and Data Analytics (DA).