Flotek Industries (NYSE:FTK) Stock Passes Above 200-Day Moving Average of $3.53

Flotek Industries, Inc. (NYSE:FTK) shares passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $3.53 and traded as high as $3.55. Flotek Industries shares last traded at $3.50, with a volume of 33,038 shares traded.

Wall Street Analysts Forecast Growth

Separately, TheStreet raised Flotek Industries from a “d” rating to a “c-” rating in a research report on Wednesday, March 13th.

Flotek Industries Price Performance

The business has a 50 day simple moving average of $3.38 and a 200 day simple moving average of $3.53.

Flotek Industries (NYSE:FTK) last issued its quarterly earnings results on Tuesday, March 12th. The oil and gas company reported $0.07 earnings per share (EPS) for the quarter. Flotek Industries had a negative return on equity of 0.65% and a net margin of 13.14%. The business had revenue of $42.19 million for the quarter.

Institutional Investors Weigh In On Flotek Industries

A number of institutional investors and hedge funds have recently added to or reduced their stakes in FTK. Pingora Partners LLC bought a new stake in Flotek Industries in the fourth quarter valued at about $46,000. Sanders Morris Harris LLC bought a new stake in shares of Flotek Industries in the first quarter worth about $223,000. Segment Wealth Management LLC bought a new stake in shares of Flotek Industries in the fourth quarter worth about $241,000. Finally, Masters Capital Management LLC increased its holdings in shares of Flotek Industries by 44.4% in the fourth quarter. Masters Capital Management LLC now owns 481,476 shares of the oil and gas company’s stock worth $1,887,000 after acquiring an additional 148,140 shares in the last quarter. Institutional investors own 10.90% of the company’s stock.

About Flotek Industries

Flotek Industries, Inc operates as a technology-driven green chemistry and data company that serves customers across industrial and commercial markets in the United States, the United Arab Emirates, and internationally. It operates through two segments: Chemistry Technologies (CT) and Data Analytics (DA).