Flotek Industries (NYSE:FTK) Stock Passes Above 200 Day Moving Average – What’s Next?

Flotek Industries, Inc. (NYSE:FTK)’s stock price crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $5.78 and traded as high as $9.58. Flotek Industries shares last traded at $9.19, with a volume of 240,463 shares traded.

Wall Street Analysts Forecast Growth

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

Flotek Industries Trading Down 2.3 %

The company has a market capitalization of $266.08 million, a price-to-earnings ratio of 34.35 and a beta of 1.19. The firm has a 50-day simple moving average of $8.00 and a two-hundred day simple moving average of $5.80.

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. XTX Topco Ltd acquired a new stake in shares of Flotek Industries in the 3rd quarter valued at $53,000. Wilmington Savings Fund Society FSB acquired a new position in shares of Flotek Industries in the third quarter valued at approximately $60,000. Barclays PLC purchased a new position in Flotek Industries during the 3rd quarter worth $66,000. PDT Partners LLC purchased a new position in shares of Flotek Industries during the 3rd quarter worth approximately $86,000. Finally, Sanders Morris Harris LLC acquired a new stake in shares of Flotek Industries in the third quarter valued at about $137,000. 10.90% of the stock is currently owned by institutional investors and hedge funds.

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).