Flotek Industries, Inc. (NYSE:FTK – Get Free Report) saw a significant decrease in short interest during the month of October. As of October 15th, there was short interest totalling 583,300 shares, a decrease of 10.1% from the September 30th total of 648,900 shares. Approximately 2.0% of the shares of the company are short sold. Based on an average daily volume of 115,300 shares, the days-to-cover ratio is currently 5.1 days.
Flotek Industries Price Performance
Flotek Industries stock opened at $4.89 on Wednesday. The stock has a market capitalization of $144.87 million, a PE ratio of 122.13 and a beta of 1.03. The business has a 50 day simple moving average of $4.69 and a 200-day simple moving average of $4.37. Flotek Industries has a 12 month low of $2.64 and a 12 month high of $5.61.
Flotek Industries (NYSE:FTK – Get Free Report) last issued its quarterly earnings results on Tuesday, August 6th. The oil and gas company reported $0.06 EPS for the quarter, hitting the consensus estimate of $0.06. The company had revenue of $46.15 million during the quarter, compared to analyst estimates of $46.60 million. Flotek Industries had a net margin of 3.94% and a return on equity of 6.73%. During the same quarter in the previous year, the firm earned ($0.24) EPS. On average, equities research analysts anticipate that Flotek Industries will post 0.27 EPS for the current fiscal year.
Analyst Ratings Changes
Institutional Inflows and Outflows
Several hedge funds have recently modified their holdings of FTK. Sanders Morris Harris LLC purchased a new stake in Flotek Industries during the 3rd quarter worth approximately $137,000. Masters Capital Management LLC lifted its position in shares of Flotek Industries by 3.8% in the first quarter. Masters Capital Management LLC now owns 500,000 shares of the oil and gas company’s stock valued at $1,870,000 after acquiring an additional 18,524 shares in the last quarter. Finally, Vanguard Group Inc. boosted its stake in shares of Flotek Industries by 7.9% in the first 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. Institutional investors and hedge funds own 10.90% of the company’s stock.
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).
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