Flotek Industries (NYSE:FTK) Stock Price Crosses Above Two Hundred Day Moving Average – Here’s What Happened

Flotek Industries, Inc. (NYSE:FTK)’s stock price crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $5.24 and traded as high as $8.17. Flotek Industries shares last traded at $8.14, with a volume of 123,329 shares traded.

Wall Street Analyst Weigh In

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

Flotek Industries Trading Down 0.7 %

The firm has a 50-day moving average price of $6.65 and a 200-day moving average price of $5.27. The stock has a market capitalization of $240.78 million, a PE ratio of 31.08 and a beta of 1.24.

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

Institutional Investors Weigh In On Flotek Industries

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

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).