Flotek Industries (NYSE:FTK) Share Price Crosses Above 200 Day Moving Average – Should You Sell?

Flotek Industries, Inc. (NYSE:FTK) crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $18.02 and traded as high as $22.39. Flotek Industries shares last traded at $21.7460, with a volume of 252,585 shares traded.

Wall Street Analyst Weigh In

Separately, Weiss Ratings raised shares of Flotek Industries from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Wednesday, May 13th. Three analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $22.50.

Flotek Industries Stock Performance

The firm has a market capitalization of $786.77 million, a P/E ratio of 27.88 and a beta of 1.43. The firm has a 50-day moving average price of $20.01 and a two-hundred day moving average price of $18.02. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.83 and a quick ratio of 1.62.

Flotek Industries (NYSE:FTK) last posted its quarterly earnings results on Tuesday, May 5th. The oil and gas company reported $0.12 EPS for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.01). The company had revenue of $70.05 million during the quarter, compared to the consensus estimate of $63.08 million. Flotek Industries had a return on equity of 20.70% and a net margin of 11.83%. On average, analysts forecast that Flotek Industries, Inc. will post 0.6 EPS for the current fiscal year.

Insider Transactions at Flotek Industries

In other Flotek Industries news, CFO James Bond Clement sold 12,554 shares of the business’s stock in a transaction dated Monday, May 18th. The shares were sold at an average price of $20.08, for a total value of $252,084.32. Following the completion of the sale, the chief financial officer directly owned 115,324 shares of the company’s stock, valued at $2,315,705.92. The trade was a 9.82% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 2.40% of the stock is currently owned by company insiders.

Institutional Trading of Flotek Industries

Institutional investors and hedge funds have recently modified their holdings of the stock. Hollow Brook Wealth Management LLC purchased a new stake in shares of Flotek Industries in the third quarter valued at approximately $1,393,000. Royce & Associates LP increased its holdings in Flotek Industries by 44.4% during the 3rd quarter. Royce & Associates LP now owns 358,249 shares of the oil and gas company’s stock worth $5,230,000 after purchasing an additional 110,192 shares during the period. EVR Research LP purchased a new position in Flotek Industries during the 3rd quarter worth $2,044,000. Bard Associates Inc. bought a new stake in Flotek Industries during the 4th quarter valued at $3,279,000. Finally, S Squared Technology LLC lifted its holdings in shares of Flotek Industries by 14.1% in the 4th quarter. S Squared Technology LLC now owns 263,726 shares of the oil and gas company’s stock worth $4,544,000 after buying an additional 32,654 shares during the period. Institutional investors own 10.90% of the company’s stock.

About Flotek Industries

Flotek Industries, Inc (NYSE: FTK) is a Houston-based oilfield services provider specializing in innovative chemical technologies for the upstream energy sector. The company develops, manufactures and markets specialty drilling fluids, completion fluids and production chemicals that enhance drilling efficiency, optimize well performance and mitigate operational risks. Flotek’s solutions are designed to improve drilling rates of penetration, reduce nonproductive time and address challenging downhole environments, including high-pressure/high-temperature wells and sour service conditions.

Flotek’s operations are organized into three core business segments: Drilling & Completion Fluids, Production Chemicals & Process Management, and Water Solutions.