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

Flotek Industries, Inc. (NYSE:FTK) was the recipient of a large drop in short interest in the month of August. As of August 31st, there was short interest totalling 497,600 shares, a drop of 6.1% from the August 15th total of 530,000 shares. Based on an average daily volume of 91,800 shares, the short-interest ratio is presently 5.4 days. Approximately 1.7% of the shares of the stock are short sold.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. Roth Mkm assumed coverage on shares of Flotek Industries in a report on Thursday, July 25th. They issued a “buy” rating and a $6.50 price target for the company. Roth Capital raised shares of Flotek Industries to a “strong-buy” rating in a report on Thursday, July 25th. One research analyst has rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Flotek Industries presently has a consensus rating of “Buy” and an average price target of $6.75.

Flotek Industries Price Performance

NYSE:FTK traded down $0.02 during trading hours on Wednesday, hitting $5.15. The stock had a trading volume of 25,716 shares, compared to its average volume of 71,798. The company has a 50 day simple moving average of $4.40 and a two-hundred day simple moving average of $4.06. Flotek Industries has a one year low of $2.64 and a one year high of $5.61. The firm has a market capitalization of $152.73 million, a price-to-earnings ratio of 129.25 and a beta of 1.03.

Flotek Industries (NYSE:FTK) last posted 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 company had revenue of $46.15 million during the quarter, compared to the consensus estimate of $46.60 million. During the same period in the previous year, the firm posted ($0.24) EPS. Equities research analysts anticipate that Flotek Industries will post 0.27 earnings per share for the current year.

Institutional Trading of Flotek Industries

A number of hedge funds have recently made changes to their positions in FTK. Masters Capital Management LLC lifted its holdings in shares of Flotek Industries by 44.4% during the 4th 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. Sanders Morris Harris LLC purchased a new position in shares of Flotek Industries in the first quarter valued at about $223,000. Vanguard Group Inc. increased 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 valued at $2,039,000 after buying an additional 39,695 shares during the period. Finally, Pingora Partners LLC purchased a new position in shares of Flotek Industries during the fourth quarter valued at about $46,000. 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).