Shares of Flotek Industries Inc (NYSE:FTK) traded down 2.3% on Monday . The stock traded as low as $1.93 and last traded at $1.94. 308,356 shares were traded during trading, a decline of 51% from the average session volume of 628,659 shares. The stock had previously closed at $1.98.

Several analysts have weighed in on the stock. ValuEngine lowered shares of Flotek Industries from a “hold” rating to a “sell” rating in a research note on Monday, July 2nd. Zacks Investment Research upgraded shares of Flotek Industries from a “strong sell” rating to a “hold” rating in a research note on Tuesday, October 9th. Finally, Seaport Global Securities lowered shares of Flotek Industries from a “buy” rating to a “neutral” rating in a research note on Wednesday, August 8th.

The company has a market cap of $112.78 million, a price-to-earnings ratio of -27.93 and a beta of 1.33.

Flotek Industries (NYSE:FTK) last released its earnings results on Tuesday, August 7th. The oil and gas company reported ($0.34) earnings per share for the quarter, missing the consensus estimate of ($0.07) by ($0.27). Flotek Industries had a negative net margin of 31.87% and a negative return on equity of 7.96%. The business had revenue of $59.09 million for the quarter, compared to the consensus estimate of $63.50 million. Equities analysts anticipate that Flotek Industries Inc will post -0.65 earnings per share for the current year.

A number of hedge funds have recently added to or reduced their stakes in the business. B. Riley Financial Inc. acquired a new position in shares of Flotek Industries during the second quarter valued at $113,000. Acadian Asset Management LLC acquired a new position in shares of Flotek Industries during the second quarter valued at $133,000. Bank of Montreal Can acquired a new position in shares of Flotek Industries during the second quarter valued at $187,000. Viking Fund Management LLC acquired a new position in shares of Flotek Industries during the second quarter valued at $323,000. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of Flotek Industries during the second quarter valued at $370,000. Hedge funds and other institutional investors own 75.85% of the company’s stock.

Flotek Industries Company Profile (NYSE:FTK)

Flotek Industries, Inc develops and supplies chemistry and services to the oil and gas industries in the United States and internationally. It operates through two segments, Energy Chemistry Technologies; and Consumer and Industrial Chemistry Technologies. The Energy Chemistry Technologies segment is involved in the design, development, manufacture, packaging, and marketing of chemistries under the Complex nano-Fluid brand name for use in oil and gas well drilling, cementing, completion, stimulation, and production activities, as well as for use in enhanced and improved oil recovery markets.

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