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

Flotek Industries, Inc. (NYSE:FTK - Get Free Report) was the target of a large decrease in short interest during the month of October. As of October 15th, there was short interest totalling 583,300 shares, a decrease of 10.1% from the September 30th total of 648,900 shares. Based on an average daily volume of 115,300 shares, the short-interest ratio is presently 5.1 days. Currently, 2.0% of the shares of the stock are sold short.

Flotek Industries Trading Up 2.2 %

NYSE:FTK traded up $0.10 during trading hours on Wednesday, hitting $4.98. 42,275 shares of the company were exchanged, compared to its average volume of 75,405. The stock has a market capitalization of $147.54 million, a price-to-earnings ratio of 124.50 and a beta of 1.03. Flotek Industries has a one year low of $2.64 and a one year high of $5.61. The company has a fifty day simple moving average of $4.69 and a 200 day simple moving average of $4.37.

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

Wall Street Analyst Weigh In

FTK has been the topic of a number of research reports. Roth Mkm started coverage on Flotek Industries in a research report on Thursday, July 25th. They set a "buy" rating and a $6.50 price objective on the stock. Roth Capital raised Flotek Industries to a "strong-buy" rating in a research note on Thursday, July 25th. One research analyst has rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of "Buy" and an average target price of $6.75.

Institutional Investors Weigh In On Flotek Industries

Large investors have recently modified their holdings of the company. Sanders Morris Harris LLC acquired a new stake in Flotek Industries during the third quarter worth approximately $137,000. Masters Capital Management LLC increased its stake in shares of Flotek Industries by 3.8% in 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 in the last quarter. Finally, Vanguard Group Inc. increased its stake in shares of Flotek Industries by 7.9% in 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 in the last quarter. 10.90% of the stock is currently owned by institutional investors and hedge funds.

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).