Flotek Industries (NYSE:FTK) Stock Price Crosses Above 200 Day Moving Average – Time to Sell?

Flotek Industries, Inc. (NYSE:FTK) shares 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 lifted their target price on Flotek Industries from $6.50 to $8.00 and gave the company a “buy” rating in a report on Thursday, November 7th.

Flotek Industries Stock Performance

The company’s 50 day simple moving average is $8.40 and its 200-day simple moving average is $5.99. The firm has a market capitalization of $262.24 million, a PE ratio of 33.85 and a beta of 1.19.

Flotek Industries (NYSE:FTK) last issued its quarterly earnings data on Monday, November 4th. The oil and gas company reported $0.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.07 by $0.01. Flotek Industries had a return on equity of 7.76% and a net margin of 4.58%. The company had revenue of $49.74 million for the quarter, compared to the consensus estimate of $50.40 million. During the same quarter last year, the business posted $0.04 earnings per share. On average, equities research analysts forecast that Flotek Industries, Inc. will post 0.29 earnings per share for the current fiscal year.

Institutional Trading of Flotek Industries

A number of large investors have recently modified their holdings of the business. XTX Topco Ltd purchased a new stake in Flotek Industries in the third quarter valued at approximately $53,000. Wilmington Savings Fund Society FSB purchased a new stake in shares of Flotek Industries during the 3rd quarter valued at $60,000. Barclays PLC bought a new stake in shares of Flotek Industries during the 3rd quarter worth $66,000. PDT Partners LLC purchased a new position in Flotek Industries in the third quarter worth $86,000. Finally, Sanders Morris Harris LLC bought a new position in Flotek Industries in the third quarter valued at $137,000. Institutional investors own 10.90% of the company’s stock.

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).