Flotek Industries (NYSE:FTK) Stock Passes Above 200 Day Moving Average – Time to Sell?

Flotek Industries, Inc. (NYSE:FTK)’s stock price crossed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $18.40 and traded as high as $23.67. Flotek Industries shares last traded at $22.4080, with a volume of 252,292 shares changing hands.

Analyst Ratings Changes

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

Flotek Industries Trading Down 3.5%

The company has a fifty day simple moving average of $21.05 and a 200-day simple moving average of $18.40. The company has a current ratio of 1.83, a quick ratio of 1.62 and a debt-to-equity ratio of 0.34. The stock has a market cap of $810.72 million, a price-to-earnings ratio of 28.73 and a beta of 1.43.

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

Insiders Place Their Bets

In other Flotek Industries news, CFO James Bond Clement sold 12,554 shares of Flotek Industries stock in a transaction that occurred on Monday, May 18th. The shares were sold at an average price of $20.08, for a total transaction of $252,084.32. Following the transaction, the chief financial officer directly owned 115,324 shares in the company, valued at approximately $2,315,705.92. The trade was a 9.82% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 2.40% of the company’s stock.

Institutional Trading of Flotek Industries

Hedge funds and other institutional investors have recently modified their holdings of the business. Rhumbline Advisers increased its holdings in shares of Flotek Industries by 3.6% in the 3rd quarter. Rhumbline Advisers now owns 22,400 shares of the oil and gas company’s stock valued at $327,000 after purchasing an additional 770 shares during the period. First Trust Advisors LP grew its position in Flotek Industries by 3.2% during the fourth quarter. First Trust Advisors LP now owns 43,495 shares of the oil and gas company’s stock valued at $749,000 after purchasing an additional 1,335 shares in the last quarter. Barclays PLC grew its position in Flotek Industries by 6.5% during the fourth quarter. Barclays PLC now owns 22,204 shares of the oil and gas company’s stock valued at $383,000 after purchasing an additional 1,351 shares in the last quarter. Informed Momentum Co LLC increased its stake in Flotek Industries by 2.2% in the 4th quarter. Informed Momentum Co LLC now owns 63,959 shares of the oil and gas company’s stock valued at $1,102,000 after buying an additional 1,366 shares during the period. Finally, Aristides Capital LLC increased its stake in Flotek Industries by 4.6% in the 4th quarter. Aristides Capital LLC now owns 31,390 shares of the oil and gas company’s stock valued at $541,000 after buying an additional 1,390 shares during the period. Institutional investors and hedge funds own 10.90% of the company’s stock.

Flotek Industries Company Profile

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.