Short Interest in Flotek Industries, Inc. (NYSE:FTK) Increases By 11.0%

Flotek Industries, Inc. (NYSE:FTK) saw a significant growth in short interest in the month of July. As of July 31st, there was short interest totalling 518,000 shares, a growth of 11.0% from the July 15th total of 466,500 shares. Approximately 1.8% of the company’s stock are short sold. Based on an average daily trading volume, of 84,700 shares, the short-interest ratio is presently 6.1 days.

Institutional Trading of Flotek Industries

Several institutional investors have recently added to or reduced their stakes in the stock. Pingora Partners LLC acquired a new position in shares of Flotek Industries in the 4th quarter worth approximately $46,000. Sanders Morris Harris LLC bought a new position in Flotek Industries in the 1st quarter worth about $223,000. Masters Capital Management LLC increased its position in 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 during the period. Finally, Vanguard Group Inc. increased its holdings 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 purchasing an additional 39,695 shares during the period. 10.90% of the stock is owned by institutional investors and hedge funds.

Flotek Industries Stock Performance

Shares of NYSE:FTK traded up $0.02 during trading on Monday, hitting $4.32. The company’s stock had a trading volume of 32,698 shares, compared to its average volume of 65,101. The company has a market capitalization of $128.12 million, a PE ratio of 107.50 and a beta of 1.08. Flotek Industries has a fifty-two week low of $2.64 and a fifty-two week high of $5.70. The stock’s 50-day moving average price is $4.58 and its two-hundred day moving average price is $3.86.

Flotek Industries (NYSE:FTK) last announced its earnings results on Tuesday, August 6th. The oil and gas company reported $0.06 earnings per share (EPS) for the quarter, meeting 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 1.77% and a net margin of 2.73%. During the same period in the prior year, the company posted ($0.24) EPS. On average, equities analysts predict that Flotek Industries will post 0.26 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on FTK. Roth Capital upgraded Flotek Industries to a “strong-buy” rating in a report on Thursday, July 25th. Alliance Global Partners began coverage on shares of Flotek Industries in a research note on Monday, April 29th. They set a “buy” rating and a $7.00 price objective on the stock. Finally, Roth Mkm started coverage on shares of Flotek Industries in a research note on Thursday, July 25th. They issued a “buy” rating and a $6.50 target price for the company. 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 company. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $6.75.

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).