Flotek Industries Inc. (NYSE:FTK)’s share price shot up 3.8% during trading on Wednesday . The company traded as high as $14.54 and last traded at $14.34, with a volume of 213,777 shares changing hands. The stock had previously closed at $13.82.

A number of brokerages recently commented on FTK. Zacks Investment Research upgraded Flotek Industries from a “strong sell” rating to a “hold” rating in a report on Monday, June 27th. Stephens restated a “top pick” rating on shares of Flotek Industries in a report on Friday, July 15th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, four have given a buy rating and one has given a strong buy rating to the company. Flotek Industries currently has an average rating of “Buy” and a consensus target price of $10.81.

The firm has a 50 day moving average of $15.09 and a 200-day moving average of $11.84. The firm’s market capitalization is $780.06 million.

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Flotek Industries (NYSE:FTK) last released its earnings results on Tuesday, July 26th. The company reported ($0.04) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.10) by $0.06. The firm earned $72.32 million during the quarter, compared to analyst estimates of $65 million. Flotek Industries had a negative return on equity of 2.24% and a negative net margin of 10.29%. The business’s quarterly revenue was down 16.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.02 earnings per share. On average, equities analysts forecast that Flotek Industries Inc. will post ($0.14) EPS for the current year.

In related news, Director L Melvin Cooper sold 10,000 shares of the company’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 transaction, the director now directly owns 92,475 shares in the company, valued at $1,480,524.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 5.64% of the stock is owned by corporate insiders.

Institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its position in Flotek Industries by 7.3% in the second quarter. Vanguard Group Inc. now owns 4,251,910 shares of the company’s stock valued at $56,126,000 after buying an additional 290,001 shares during the last quarter. BlackRock Fund Advisors raised its stake in shares of Flotek Industries by 3.4% in the second quarter. BlackRock Fund Advisors now owns 3,583,533 shares of the company’s stock valued at $47,303,000 after buying an additional 117,797 shares in the last quarter. Waddell & Reed Financial Inc. raised its stake in shares of Flotek Industries by 99.5% in the second quarter. Waddell & Reed Financial Inc. now owns 3,364,346 shares of the company’s stock valued at $44,409,000 after buying an additional 1,677,600 shares in the last quarter. GW&K Investment Management LLC raised its stake in shares of Flotek Industries by 10.6% in the first quarter. GW&K Investment Management LLC now owns 1,505,879 shares of the company’s stock valued at $11,038,000 after buying an additional 144,195 shares in the last quarter. Finally, Northpointe Capital LLC raised its stake in shares of Flotek Industries by 2.8% in the second quarter. Northpointe Capital LLC now owns 1,231,934 shares of the company’s stock valued at $16,262,000 after buying an additional 33,947 shares in the last quarter. Hedge funds and other institutional investors own 94.89% of the company’s stock.

About Flotek Industries

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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