Flotek Industries (NYSE:FTK) Stock Price Passes Above Two Hundred Day Moving Average of $3.59

Flotek Industries, Inc. (NYSE:FTK) shares passed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $3.59 and traded as high as $4.90. Flotek Industries shares last traded at $4.73, with a volume of 67,070 shares changing hands.

Analysts Set New Price Targets

Several brokerages have weighed in on FTK. Alliance Global Partners initiated coverage on shares of Flotek Industries in a research note on Monday, April 29th. They set a “buy” rating and a $7.00 target price for the company. TheStreet raised shares of Flotek Industries from a “d” rating to a “c-” rating in a research report on Wednesday, March 13th.

Flotek Industries Price Performance

The business’s 50 day moving average is $4.05 and its 200-day moving average is $3.59. The company has a market cap of $140.29 million, a PE ratio of 118.22 and a beta of 1.08.

Flotek Industries (NYSE:FTK) last released its quarterly earnings data on Tuesday, May 7th. The oil and gas company reported $0.05 earnings per share (EPS) for the quarter. The business had revenue of $40.37 million during the quarter. Flotek Industries had a return on equity of 1.77% and a net margin of 2.73%.

Institutional Trading of Flotek Industries

A number of hedge funds have recently added to or reduced their stakes in the stock. Segment Wealth Management LLC acquired a new stake in Flotek Industries in the fourth quarter valued at $241,000. Pingora Partners LLC purchased a new position in shares of Flotek Industries in the 4th quarter valued at about $46,000. Masters Capital Management LLC lifted its stake in shares of Flotek Industries by 44.4% in the fourth quarter. Masters Capital Management LLC now owns 481,476 shares of the oil and gas company’s stock valued at $1,887,000 after purchasing an additional 148,140 shares during the period. Sanders Morris Harris LLC purchased a new stake in Flotek Industries during the first quarter worth about $223,000. Finally, Vanguard Group Inc. lifted its position in shares of 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 valued at $2,039,000 after acquiring an additional 39,695 shares during the period. 10.90% of the stock is owned by institutional investors and hedge funds.

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).