Flotek Industries, Inc. (NYSE:FTK) Short Interest Up 7.3% in September

Flotek Industries, Inc. (NYSE:FTK) was the target of a large increase in short interest in September. As of September 15th, there was short interest totalling 533,900 shares, an increase of 7.3% from the August 31st total of 497,600 shares. Based on an average trading volume of 112,000 shares, the days-to-cover ratio is presently 4.8 days. Currently, 1.9% of the company’s stock are short sold.

Flotek Industries Price Performance

Shares of FTK opened at $4.93 on Monday. Flotek Industries has a 1-year low of $2.64 and a 1-year high of $5.61. The company has a market capitalization of $146.21 million, a P/E ratio of 123.25 and a beta of 1.03. The firm’s 50 day simple moving average is $4.44 and its 200 day simple moving average is $4.18.

Flotek Industries (NYSE:FTK) last announced its quarterly earnings data on Tuesday, August 6th. The oil and gas company reported $0.06 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.06. The firm 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 period in the previous year, the business posted ($0.24) EPS. On average, equities analysts anticipate that Flotek Industries will post 0.27 earnings per share for the current year.

Institutional Investors Weigh In On Flotek Industries

Several institutional investors have recently added to or reduced their stakes in the company. Masters Capital Management LLC raised its stake in 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 worth $1,887,000 after buying an additional 148,140 shares in the last quarter. Sanders Morris Harris LLC bought a new position in shares of Flotek Industries in the 1st quarter worth approximately $223,000. Finally, Vanguard Group Inc. lifted its stake in shares of 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 purchasing an additional 39,695 shares during the period. Hedge funds and other institutional investors own 10.90% of the company’s stock.

Analyst Upgrades and Downgrades

FTK has been the subject of several analyst reports. Roth Mkm started coverage on shares of Flotek Industries in a report on Thursday, July 25th. They issued a “buy” rating and a $6.50 target price for the company. Roth Capital upgraded shares of Flotek Industries to a “strong-buy” rating in a research note on Thursday, July 25th. One research analyst has rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $6.75.

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).