Flotek Industries (NYSE:FTK) Stock Price Crosses Above 200 Day Moving Average of $3.48

Flotek Industries, Inc. (NYSE:FTK) shares passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $3.48 and traded as high as $3.72. Flotek Industries shares last traded at $3.60, with a volume of 50,313 shares trading hands.

Analysts Set New Price Targets

FTK has been the topic of several analyst reports. Alliance Global Partners assumed coverage on Flotek Industries in a report on Monday, April 29th. They set a “buy” rating and a $7.00 price objective on the stock. TheStreet raised shares of Flotek Industries from a “d” rating to a “c-” rating in a report on Wednesday, March 13th.

Flotek Industries Stock Up 1.4 %

The stock has a 50 day moving average of $3.46 and a 200 day moving average of $3.48. The firm has a market capitalization of $106.78 million, a price-to-earnings ratio of -27.69 and a beta of 1.06.

Flotek Industries (NYSE:FTK) last issued its earnings results on Tuesday, March 12th. The oil and gas company reported $0.07 EPS for the quarter. Flotek Industries had a negative return on equity of 0.65% and a net margin of 13.14%. The company had revenue of $42.19 million during the quarter.

Hedge Funds Weigh In On Flotek Industries

A number of hedge funds and other institutional investors have recently bought and sold shares of FTK. Pingora Partners LLC bought a new stake in shares of Flotek Industries in the 4th quarter worth approximately $46,000. Sanders Morris Harris LLC acquired a new stake in Flotek Industries in the first quarter worth $223,000. Segment Wealth Management LLC bought a new stake in Flotek Industries in the fourth quarter valued at $241,000. Finally, Masters Capital Management LLC boosted its holdings in shares of Flotek Industries by 44.4% during the fourth quarter. Masters Capital Management LLC now owns 481,476 shares of the oil and gas company’s stock valued at $1,887,000 after acquiring an additional 148,140 shares during the period. 10.90% of the stock is currently owned by institutional investors and hedge funds.

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).