Flotek Industries (NYSE:FTK) Stock Passes Above Two Hundred Day Moving Average of $1.22

Flotek Industries, Inc. (NYSE:FTK – Get Rating) shares crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $1.22 and traded as high as $1.26. Flotek Industries shares last traded at $1.24, with a volume of 311,707 shares.

Flotek Industries Stock Up 3.3 %

The stock’s fifty day simple moving average is $1.11 and its 200-day simple moving average is $1.22. The company has a current ratio of 1.18, a quick ratio of 0.98 and a debt-to-equity ratio of 0.25. The stock has a market capitalization of $95.00 million, a PE ratio of -2.76 and a beta of 1.92.

Flotek Industries (NYSE:FTK – Get Rating) last announced its quarterly earnings results on Monday, May 16th. The oil and gas company reported ($0.10) earnings per share for the quarter, missing the consensus estimate of ($0.04) by ($0.06). The company had revenue of $12.88 million for the quarter, compared to the consensus estimate of $11.84 million. Flotek Industries had a negative net margin of 74.25% and a negative return on equity of 105.17%.

Insider Buying and Selling

In other news, Director Harshavardhan V. Agadi acquired 20,000 shares of the firm’s stock in a transaction on Friday, June 3rd. The stock was acquired at an average price of $1.32 per share, for a total transaction of $26,400.00. Following the completion of the acquisition, the director now owns 70,000 shares in the company, valued at $92,400. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Flotek Industries news, Director Harshavardhan V. Agadi bought 30,000 shares of the firm’s stock in a transaction on Wednesday, June 1st. The stock was acquired at an average price of $1.29 per share, with a total value of $38,700.00. Following the transaction, the director now owns 30,000 shares in the company, valued at $38,700. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Harshavardhan V. Agadi purchased 20,000 shares of Flotek Industries stock in a transaction dated Friday, June 3rd. The shares were acquired at an average cost of $1.32 per share, with a total value of $26,400.00. Following the transaction, the director now directly owns 70,000 shares in the company, valued at $92,400. The disclosure for this purchase can be found here. Insiders acquired 77,947 shares of company stock valued at $100,606 over the last quarter. 13.76% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Sfmg LLC bought a new position in Flotek Industries in the 1st quarter worth approximately $29,000. B. Riley Wealth Management Inc. purchased a new stake in Flotek Industries in the first quarter worth $34,000. Charles Schwab Investment Management Inc. purchased a new stake in Flotek Industries in the first quarter worth $43,000. Tiedemann Advisors LLC increased its stake in Flotek Industries by 25.0% in the fourth quarter. Tiedemann Advisors LLC now owns 100,000 shares of the oil and gas company’s stock worth $113,000 after purchasing an additional 20,000 shares during the period. Finally, Truist Financial Corp bought a new position in shares of Flotek Industries during the 2nd quarter worth $119,000. 41.27% of the stock is currently owned by institutional investors.

Flotek Industries Company Profile

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Flotek Industries, Inc operates as a technology-driven chemistry and data company that serves customers across industrial, commercial, and consumer markets in the United States, the United Arab Emirates, and internationally. It operates in two segments, Chemistry Technologies (CT) and Data Analytics (DA).

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