Flotek Industries (NYSE:FTK) Stock Passes Above Two Hundred Day Moving Average of $3.45

Flotek Industries, Inc. (NYSE:FTK)’s share price crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $3.45 and traded as high as $3.81. Flotek Industries shares last traded at $3.71, with a volume of 35,385 shares.

Wall Street Analyst Weigh In

FTK has been the subject of a number of 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 for the company. TheStreet raised Flotek Industries from a “d” rating to a “c-” rating in a report on Wednesday, March 13th.

Flotek Industries Trading Down 2.4 %

The stock has a market cap of $110.04 million, a P/E ratio of 92.73 and a beta of 1.06. The business’s fifty day simple moving average is $3.59 and its 200 day simple moving average is $3.45.

Flotek Industries (NYSE:FTK) last issued its quarterly earnings results on Tuesday, March 12th. The oil and gas company reported $0.07 earnings per share for the quarter. Flotek Industries had a net margin of 2.73% and a return on equity of 1.77%. The business had revenue of $42.19 million during the quarter.

Institutional Investors Weigh In On Flotek Industries

A number of institutional investors and hedge funds have recently made changes to their positions in FTK. Vanguard Group Inc. increased its position in Flotek Industries by 7.9% in the first quarter. Vanguard Group Inc. now owns 545,246 shares of the oil and gas company’s stock worth $2,039,000 after purchasing an additional 39,695 shares during the period. Masters Capital Management LLC grew its position in shares of Flotek Industries by 3.8% during the 1st quarter. Masters Capital Management LLC now owns 500,000 shares of the oil and gas company’s stock worth $1,870,000 after buying an additional 18,524 shares during the period. Segment Wealth Management LLC bought a new stake in shares of Flotek Industries during the fourth quarter worth approximately $241,000. Sanders Morris Harris LLC acquired a new position in Flotek Industries in the first quarter valued at approximately $223,000. Finally, Pingora Partners LLC bought a new position in Flotek Industries in the fourth quarter valued at approximately $46,000. Institutional investors own 10.90% of the company’s stock.

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).