Flotek Industries, Inc. (NYSE:FTK) Short Interest Update

Flotek Industries, Inc. (NYSE:FTK - Get Free Report) saw a large growth in short interest in November. As of November 30th, there was short interest totalling 553,100 shares, a growth of 7.3% from the November 15th total of 515,700 shares. Based on an average daily volume of 158,100 shares, the days-to-cover ratio is presently 3.5 days. Currently, 1.9% of the shares of the company are short sold.

Flotek Industries Trading Down 3.1 %

Shares of NYSE:FTK traded down $0.25 on Tuesday, reaching $7.75. 111,986 shares of the company were exchanged, compared to its average volume of 92,866. The company has a 50-day moving average of $6.71 and a 200-day moving average of $5.32. The firm has a market cap of $230.92 million, a price-to-earnings ratio of 29.73 and a beta of 1.24. Flotek Industries has a 1-year low of $2.64 and a 1-year high of $9.14.

Flotek Industries (NYSE:FTK - Get Free Report) last issued its earnings results on Monday, November 4th. The oil and gas company reported $0.08 earnings per share for the quarter, topping the consensus estimate of $0.07 by $0.01. Flotek Industries had a net margin of 4.58% and a return on equity of 7.76%. The company had revenue of $49.74 million for the quarter, compared to analyst estimates of $50.40 million. During the same period in the prior year, the business posted $0.04 earnings per share. As a group, analysts forecast that Flotek Industries will post 0.29 earnings per share for the current year.

Hedge Funds Weigh In On Flotek Industries

Several hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. grew its holdings 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 valued at $2,039,000 after purchasing an additional 39,695 shares during the last quarter. PDT Partners LLC purchased a new stake in shares of Flotek Industries in the 3rd quarter worth about $86,000. Sanders Morris Harris LLC acquired a new stake in Flotek Industries in the 3rd quarter valued at about $137,000. Barclays PLC purchased a new position in Flotek Industries during the 3rd quarter valued at about $66,000. Finally, Geode Capital Management LLC raised its position in Flotek Industries by 108.1% during the third quarter. Geode Capital Management LLC now owns 297,483 shares of the oil and gas company's stock worth $1,483,000 after acquiring an additional 154,497 shares during the last quarter. 10.90% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, Roth Mkm increased their target price on Flotek Industries from $6.50 to $8.00 and gave the stock a "buy" rating in a research note on Thursday, November 7th.

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).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.