Flotek Industries (NYSE:FTK) Stock Price Passes Above Two Hundred Day Moving Average of $3.59

Flotek Industries, Inc. (NYSE:FTK)’s stock price crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $3.59 and traded as high as $4.90. Flotek Industries shares last traded at $4.73, with a volume of 67,070 shares.

Wall Street Analyst Weigh In

Several research firms recently commented on FTK. TheStreet raised shares of Flotek Industries from a “d” rating to a “c-” rating in a research note on Wednesday, March 13th. Alliance Global Partners began coverage on shares of Flotek Industries in a research note on Monday, April 29th. They set a “buy” rating and a $7.00 price objective on the stock.

Flotek Industries Price Performance

The stock’s 50-day moving average is $4.10 and its two-hundred day moving average is $3.61. The company has a market cap of $141.17 million, a P/E ratio of 119.00 and a beta of 1.08.

Flotek Industries (NYSE:FTK) last announced its quarterly earnings data on Tuesday, May 7th. The oil and gas company reported $0.05 earnings per share (EPS) for the quarter. The firm had revenue of $40.37 million during the quarter. Flotek Industries had a net margin of 2.73% and a return on equity of 1.77%.

Institutional Trading of Flotek Industries

Hedge funds and other institutional investors have recently modified their holdings of the company. Segment Wealth Management LLC bought a new position in shares of Flotek Industries during the fourth quarter worth $241,000. Sanders Morris Harris LLC bought a new position in shares of Flotek Industries during the first quarter worth $223,000. Masters Capital Management LLC boosted its position 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 worth $1,887,000 after acquiring an additional 148,140 shares during the last quarter. Pingora Partners LLC bought a new position in shares of Flotek Industries during the fourth quarter worth $46,000. Finally, Vanguard Group Inc. boosted its position in shares of Flotek Industries by 7.9% during the first quarter. Vanguard Group Inc. now owns 545,246 shares of the oil and gas company’s stock worth $2,039,000 after acquiring an additional 39,695 shares during the last quarter. 10.90% of the stock is owned by hedge funds and other institutional investors.

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).