Flotek Industries (NYSE:FTK) Shares Cross Above Two Hundred Day Moving Average – What’s Next?

Flotek Industries, Inc. (NYSE:FTK) crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $4.67 and traded as high as $8.07. Flotek Industries shares last traded at $8.02, with a volume of 278,485 shares.

Wall Street Analysts Forecast Growth

FTK has been the subject of several research analyst reports. Roth Capital upgraded Flotek Industries to a “strong-buy” rating in a research note on Thursday, July 25th. Roth Mkm increased their target price on Flotek Industries from $6.50 to $8.00 and gave the company a “buy” rating in a research report on Thursday, November 7th.

Flotek Industries Trading Up 9.0 %

The stock has a market capitalization of $239.00 million, a price-to-earnings ratio of 30.85 and a beta of 1.04. The company’s 50-day simple moving average is $5.36 and its 200-day simple moving average is $4.67.

Flotek Industries (NYSE:FTK) last announced its earnings results on Monday, November 4th. The oil and gas company reported $0.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.07 by $0.01. The business had revenue of $49.74 million during the quarter, compared to analyst estimates of $50.40 million. Flotek Industries had a return on equity of 7.76% and a net margin of 4.58%. During the same period last year, the company earned $0.04 EPS. On average, equities research analysts expect that Flotek Industries, Inc. will post 0.29 earnings per share for the current fiscal year.

Institutional Trading of Flotek Industries

Institutional investors have recently added to or reduced their stakes in the stock. XTX Topco Ltd bought a new position in shares of Flotek Industries in the 3rd quarter worth about $53,000. Barclays PLC acquired a new stake in Flotek Industries during the third quarter worth approximately $66,000. PDT Partners LLC bought a new stake in Flotek Industries in the third quarter worth approximately $86,000. Masters Capital Management LLC lifted its stake in 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 buying an additional 18,524 shares during the period. Finally, Sanders Morris Harris LLC bought a new position in shares of Flotek Industries during the 3rd quarter worth approximately $137,000. 10.90% of the stock is currently owned by institutional investors.

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).