Flotek Industries (NYSE:FTK) Share Price Crosses Above Two Hundred Day Moving Average of $1.13

Flotek Industries, Inc. (NYSE:FTK – Get Rating)’s share price passed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $1.13 and traded as high as $1.38. Flotek Industries shares last traded at $1.29, with a volume of 541,491 shares trading hands.

Analyst Upgrades and Downgrades

Separately, StockNews.com assumed coverage on Flotek Industries in a research report on Wednesday, October 12th. They issued a “sell” rating for the company.

Flotek Industries Price Performance

The firm has a market capitalization of $99.98 million, a P/E ratio of -1.93 and a beta of 1.77. The business has a 50-day moving average of $1.18 and a 200 day moving average of $1.13. The company has a current ratio of 0.62, a quick ratio of 0.48 and a debt-to-equity ratio of 0.14.

Flotek Industries (NYSE:FTK – Get Rating) last issued its earnings results on Tuesday, November 8th. The oil and gas company reported ($0.21) EPS for the quarter. Flotek Industries had a negative net margin of 39.46% and a negative return on equity of 163.20%. The firm had revenue of $45.62 million during the quarter.

Institutional Trading of Flotek Industries

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in FTK. Charles Schwab Investment Management Inc. bought a new stake in Flotek Industries during the 1st quarter worth approximately $43,000. Renaissance Technologies LLC bought a new stake in Flotek Industries during the 1st quarter worth approximately $286,000. Delta Investment Management LLC increased its holdings in Flotek Industries by 5.1% during the 2nd quarter. Delta Investment Management LLC now owns 311,468 shares of the oil and gas company’s stock worth $309,000 after purchasing an additional 15,000 shares in the last quarter. Truist Financial Corp bought a new stake in Flotek Industries during the 2nd quarter worth approximately $119,000. Finally, Tiedemann Advisors LLC increased its holdings in Flotek Industries by 6.7% during the 3rd quarter. Tiedemann Advisors LLC now owns 160,000 shares of the oil and gas company’s stock worth $160,000 after purchasing an additional 10,000 shares in the last quarter. 25.42% of the stock is owned by institutional investors.

About Flotek Industries

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Flotek Industries, Inc is a technology-driven, specialty chemistry and data company that serves customers across industrial, commercial and consumer markets. It operates through the following segments: Chemistry Technologies and Data Analytics. The Chemistry Technologies segment develops, manufactures, packages, distributes delivers, and markets sanitizers and disinfectants for commercial, governmental and personal consumer use and also includes specialty chemistries and logistics which enable customers to improve efficiencies in the drilling and completion of well.