Flotek Industries (NYSE:FTK) Share Price Passes Above Two Hundred Day Moving Average – Time to Sell?

Flotek Industries, Inc. (NYSE:FTK) shares passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $4.32 and traded as high as $4.94. Flotek Industries shares last traded at $4.80, with a volume of 39,207 shares.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. Roth Mkm assumed coverage on Flotek Industries in a research report on Thursday, July 25th. They issued a “buy” rating and a $6.50 target price for the company. Roth Capital upgraded Flotek Industries to a “strong-buy” rating in a research report on Thursday, July 25th. One investment analyst has rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Buy” and an average price target of $6.75.

Flotek Industries Trading Down 2.2 %

The business has a 50-day moving average price of $4.63 and a 200 day moving average price of $4.32. The company has a market cap of $142.35 million, a price-to-earnings ratio of 120.00 and a beta of 1.03.

Flotek Industries (NYSE:FTK) last announced its quarterly earnings data on Tuesday, August 6th. The oil and gas company reported $0.06 EPS for the quarter, meeting analysts’ consensus estimates of $0.06. Flotek Industries had a return on equity of 6.73% and a net margin of 3.94%. The company had revenue of $46.15 million during the quarter, compared to the consensus estimate of $46.60 million. During the same quarter in the prior year, the firm earned ($0.24) EPS. On average, analysts anticipate that Flotek Industries, Inc. will post 0.27 earnings per share for the current year.

Institutional Trading of Flotek Industries

Several large investors have recently added to or reduced their stakes in FTK. Vanguard Group Inc. raised its stake 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 valued at $2,039,000 after purchasing an additional 39,695 shares during the period. Sanders Morris Harris LLC acquired a new stake in Flotek Industries during the 3rd quarter valued at $137,000. Finally, Masters Capital Management LLC raised its stake 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 valued at $1,870,000 after purchasing an additional 18,524 shares during the period. 10.90% of the stock is owned by institutional investors and hedge funds.

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).