Flotek Industries (NYSE:FTK) Stock Crosses Above Two Hundred Day Moving Average – What’s Next?

Shares of Flotek Industries, Inc. (NYSE:FTK) crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $5.99 and traded as high as $8.95. Flotek Industries shares last traded at $8.80, with a volume of 149,754 shares.

Analyst Ratings Changes

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

Flotek Industries Stock Performance

The stock has a 50-day moving average of $8.40 and a 200-day moving average of $6.00. The firm has a market cap of $262.20 million, a price-to-earnings ratio of 33.85 and a beta of 1.19.

Flotek Industries (NYSE:FTK) last announced its quarterly earnings data on Monday, November 4th. The oil and gas company reported $0.08 EPS for the quarter, topping analysts’ consensus estimates of $0.07 by $0.01. The business had revenue of $49.74 million for the quarter, compared to analyst estimates 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 in the previous year, the firm posted $0.04 earnings per share. Sell-side analysts predict that Flotek Industries, Inc. will post 0.29 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. XTX Topco Ltd bought a new stake in shares of Flotek Industries in the 3rd quarter valued at about $53,000. Wilmington Savings Fund Society FSB bought a new position in Flotek Industries during the third quarter worth about $60,000. Barclays PLC bought a new stake in Flotek Industries in the third quarter valued at approximately $66,000. PDT Partners LLC bought a new stake in Flotek Industries in the third quarter valued at approximately $86,000. Finally, Sanders Morris Harris LLC acquired a new stake in shares of Flotek Industries in the third quarter valued at approximately $137,000. 10.90% of the stock is 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).