Flotek Industries (NYSE:FTK) Stock Price Crosses Above 200-Day Moving Average – Here’s Why

Flotek Industries, Inc. (NYSE:FTK) passed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $6.50 and traded as high as $9.24. Flotek Industries shares last traded at $9.14, with a volume of 190,426 shares trading hands.

Analyst Upgrades and Downgrades

Separately, Roth Mkm lifted their target price on shares of Flotek Industries from $6.50 to $8.00 and gave the company a “buy” rating in a report on Thursday, November 7th.

Flotek Industries Stock Performance

The company has a market capitalization of $272.46 million, a PE ratio of 35.17 and a beta of 1.18. The business has a fifty day moving average price of $8.67 and a 200 day moving average price of $6.50.

Institutional Trading of Flotek Industries

A number of hedge funds have recently made changes to their positions in the company. PDT Partners LLC acquired a new position in shares of Flotek Industries in the 3rd quarter valued at approximately $86,000. XTX Topco Ltd acquired a new stake in Flotek Industries in the third quarter valued at $53,000. Barclays PLC bought a new position in Flotek Industries during the 3rd quarter valued at $66,000. Geode Capital Management LLC grew its holdings in Flotek Industries by 108.1% during the 3rd quarter. Geode Capital Management LLC now owns 297,483 shares of the oil and gas company’s stock worth $1,483,000 after acquiring an additional 154,497 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB bought a new stake in shares of Flotek Industries in the 3rd quarter worth about $60,000. Hedge funds and other institutional investors 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).