Flotek Industries (NYSE:FTK) Shares Cross Above 200-Day Moving Average - Here's What Happened

Flotek Industries, Inc. (NYSE:FTK - Get Free Report) shares passed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $4.23 and traded as high as $5.05. Flotek Industries shares last traded at $5.03, with a volume of 116,956 shares traded.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on FTK shares. Roth Capital upgraded shares of Flotek Industries to a "strong-buy" rating in a report on Thursday, July 25th. Roth Mkm assumed coverage on shares of Flotek Industries in a research report on Thursday, July 25th. They issued a "buy" rating and a $6.50 price objective for the company. One research analyst has rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Buy" and an average target price of $6.75.

Flotek Industries Trading Down 2.4 %

The stock's 50-day simple moving average is $4.48 and its 200-day simple moving average is $4.24. The firm has a market capitalization of $145.62 million, a P/E ratio of 122.75 and a beta of 1.03.

Flotek Industries (NYSE:FTK - Get Free Report) last issued its quarterly earnings data on Tuesday, August 6th. The oil and gas company reported $0.06 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.06. Flotek Industries had a net margin of 3.94% and a return on equity of 6.73%. The business had revenue of $46.15 million during the quarter, compared to the consensus estimate of $46.60 million. During the same period in the prior year, the firm posted ($0.24) EPS. On average, equities research analysts expect that Flotek Industries, Inc. will post 0.27 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of FTK. Sanders Morris Harris LLC bought a new position in shares of Flotek Industries during the 1st quarter valued at approximately $223,000. 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 valued at $1,870,000 after acquiring an additional 18,524 shares during the period. Finally, Vanguard Group Inc. grew its position in shares of Flotek Industries by 7.9% during the 1st quarter. Vanguard Group Inc. now owns 545,246 shares of the oil and gas company's stock valued at $2,039,000 after acquiring an additional 39,695 shares during the period. 10.90% of the stock is owned by 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).