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

Flotek Industries, Inc. (NYSE:FTK)’s share price passed 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 changing hands.

Analyst Upgrades and Downgrades

Separately, Roth Mkm lifted their price objective on Flotek Industries from $6.50 to $8.00 and gave the stock a “buy” rating in a report on Thursday, November 7th.

Flotek Industries Trading Down 0.7 %

The stock has a market cap of $262.24 million, a PE ratio of 33.85 and a beta of 1.19. The business has a 50 day moving average of $8.40 and a 200-day moving average of $5.99.

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

Institutional Trading of Flotek Industries

A number of hedge funds have recently bought and sold shares of FTK. Geode Capital Management LLC increased its stake in Flotek Industries by 108.1% in the third quarter. Geode Capital Management LLC now owns 297,483 shares of the oil and gas company’s stock valued at $1,483,000 after purchasing an additional 154,497 shares during the last quarter. Barclays PLC purchased a new position in shares of Flotek Industries during the 3rd quarter worth about $66,000. PDT Partners LLC acquired a new stake in shares of Flotek Industries in the third quarter worth approximately $86,000. Wilmington Savings Fund Society FSB purchased a new stake in Flotek Industries in the third quarter valued at approximately $60,000. Finally, Sanders Morris Harris LLC acquired a new position in Flotek Industries during the third quarter worth approximately $137,000. Institutional investors and hedge funds own 10.90% of the company’s stock.

About Flotek Industries

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).