Flotek Industries, Inc. (NYSE:FTK – Get Free Report) shares crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $3.96 and traded as high as $3.96. Flotek Industries shares last traded at $3.88, with a volume of 49,333 shares.
Analysts Set New Price Targets
A number of analysts recently issued reports on FTK shares. Roth Mkm started coverage on Flotek Industries in a report on Thursday, July 25th. They set a “buy” rating and a $6.50 price objective on the stock. Roth Capital raised Flotek Industries to a “strong-buy” rating in a report on Thursday, July 25th. One investment analyst has rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Flotek Industries currently has a consensus rating of “Buy” and a consensus price target of $6.75.
Flotek Industries Trading Up 2.3 %
Flotek Industries (NYSE:FTK – Get Free Report) last released its quarterly earnings results on Tuesday, August 6th. The oil and gas company reported $0.06 earnings per share for the quarter, meeting the consensus estimate of $0.06. Flotek Industries had a return on equity of 6.73% and a net margin of 3.94%. The firm had revenue of $46.15 million for the quarter, compared to analysts’ expectations of $46.60 million. During the same quarter last year, the firm posted ($0.24) EPS. Equities analysts forecast that Flotek Industries, Inc. will post 0.27 earnings per share for the current year.
Hedge Funds Weigh In On Flotek Industries
Large investors have recently modified their holdings of the company. Pingora Partners LLC purchased a new position in shares of Flotek Industries during the 4th quarter valued at about $46,000. Sanders Morris Harris LLC bought a new position in Flotek Industries during the 1st quarter worth approximately $223,000. Masters Capital Management LLC grew its position in Flotek Industries by 3.8% during the 1st quarter. Masters Capital Management LLC now owns 500,000 shares of the oil and gas company’s stock worth $1,870,000 after acquiring an additional 18,524 shares during the last quarter. Finally, Vanguard Group Inc. grew its position in Flotek Industries by 7.9% during the 1st quarter. Vanguard Group Inc. now owns 545,246 shares of the oil and gas company’s stock worth $2,039,000 after acquiring an additional 39,695 shares during the last quarter. 10.90% of the stock is owned by hedge funds and other institutional investors.
Flotek Industries Company Profile
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).
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