Flotek Industries Inc. (NYSE:FTK) shares fell 3.3% during mid-day trading on Friday . The company traded as low as $14.43 and last traded at $14.46, with a volume of 463,150 shares trading hands. The stock had previously closed at $14.95.

A number of analysts have commented on FTK shares. Zacks Investment Research upgraded shares of Flotek Industries from a “sell” rating to a “hold” rating in a research note on Monday, August 8th. Stephens restated a “top pick” rating on shares of Flotek Industries in a research note on Friday, July 15th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $12.98.

The stock has a 50 day moving average of $14.96 and a 200-day moving average of $11.58. The stock’s market capitalization is $776.83 million.

Flotek Industries (NYSE:FTK) last issued its earnings results on Tuesday, July 26th. The company reported ($0.04) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.10) by $0.06. Flotek Industries had a negative net margin of 10.29% and a negative return on equity of 2.24%. The firm had revenue of $72.32 million for the quarter, compared to analysts’ expectations of $65 million. During the same quarter last year, the business earned $0.02 earnings per share. The business’s revenue was down 16.9% on a year-over-year basis. Equities research analysts expect that Flotek Industries Inc. will post ($0.14) earnings per share for the current year.

In related news, Director L Melvin Cooper sold 10,000 shares of the firm’s stock in a transaction on Tuesday, September 6th. The stock was sold at an average price of $16.01, for a total value of $160,100.00. Following the completion of the sale, the director now owns 92,475 shares of the company’s stock, valued at $1,480,524.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 5.64% of the stock is currently owned by insiders.

A number of hedge funds have recently made changes to their positions in the company. Arizona State Retirement System raised its stake in shares of Flotek Industries by 0.4% in the first quarter. Arizona State Retirement System now owns 27,467 shares of the company’s stock worth $201,000 after buying an additional 100 shares during the last quarter. Louisiana State Employees Retirement System raised its stake in shares of Flotek Industries by 0.4% in the second quarter. Louisiana State Employees Retirement System now owns 23,800 shares of the company’s stock worth $314,000 after buying an additional 100 shares during the last quarter. Teachers Advisors Inc. raised its stake in shares of Flotek Industries by 0.7% in the second quarter. Teachers Advisors Inc. now owns 94,354 shares of the company’s stock worth $1,245,000 after buying an additional 672 shares during the last quarter. UBS Asset Management Americas Inc. raised its stake in shares of Flotek Industries by 2.0% in the first quarter. UBS Asset Management Americas Inc. now owns 35,498 shares of the company’s stock worth $260,000 after buying an additional 700 shares during the last quarter. Finally, BlackRock Advisors LLC raised its stake in shares of Flotek Industries by 2.9% in the second quarter. BlackRock Advisors LLC now owns 25,242 shares of the company’s stock worth $333,000 after buying an additional 706 shares during the last quarter. 94.89% of the stock is owned by institutional investors.

Flotek Industries Company Profile

Flotek Industries, Inc is a technology-driven company that develops and supplies oilfield products, services and equipment to the oil, gas and mining industries. The Company has four business segments: Energy Chemistry Technologies, Consumer and Industrial Chemical Technologies, Drilling Technologies, and Production Technologies.

5 Day Chart for NYSE:FTK

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