Noteworthy Price Action: After Today’s Significant Increase, Is Flotek Industries Inc’s Near-Term Analysis Positive?

Noteworthy Price Action: After Today's Significant Increase, Is Flotek Industries Inc's Near Term Analysis Positive?

The stock of Flotek Industries Inc (NYSE:FTK) is a huge mover today! About 456,125 shares traded hands. Flotek Industries Inc (NYSE:FTK) has risen 99.73% since February 29, 2016 and is uptrending. It has outperformed by 87.51% the S&P500.
The move comes after 7 months positive chart setup for the $857.91 million company. It was reported on Oct, 3 by We have $20.99 PT which if reached, will make NYSE:FTK worth $360.32 million more.

Analysts await Flotek Industries Inc (NYSE:FTK) to report earnings on October, 19. They expect $-0.03 earnings per share, down 175.00% or $0.07 from last year’s $0.04 per share. After $-0.04 actual earnings per share reported by Flotek Industries Inc for the previous quarter, Wall Street now forecasts -25.00% EPS growth.

Flotek Industries Inc (NYSE:FTK) Ratings Coverage

Out of 5 analysts covering Flotek Industries (NYSE:FTK), 4 rate it a “Buy”, 0 “Sell”, while 1 “Hold”. This means 80% are positive. Flotek Industries has been the topic of 10 analyst reports since July 27, 2015 according to StockzIntelligence Inc. On Monday, July 27 the stock rating was upgraded by Oppenheimer to “Perform”. The firm has “Buy” rating by Vetr given on Tuesday, September 22. The company was upgraded on Wednesday, January 20 by Seaport Global Securities. The company was downgraded on Thursday, August 6 by Vetr. The stock of Flotek Industries Inc (NYSE:FTK) earned “Buy” rating by KLR Group on Monday, December 14. Vetr downgraded Flotek Industries Inc (NYSE:FTK) rating on Friday, August 28. Vetr has “Strong-Buy” rating and $20.11 price target. The company was maintained on Wednesday, October 7 by Oppenheimer.

According to Zacks Investment Research, “Flotek manufactures and markets innovative specialty chemicals, downhole drilling and production equipment, and management of automated bulk material handling, loading and blending facilities. It serves major and independent companies in the domestic and international oilfield service industry.”

Insitutional Activity: The institutional sentiment decreased to 0.89 in 2016 Q2. Its down 0.37, from 1.26 in 2016Q1. The ratio turned negative, as 21 funds sold all Flotek Industries Inc shares owned while 41 reduced positions. 16 funds bought stakes while 39 increased positions. They now own 53.39 million shares or 9.62% more from 48.70 million shares in 2016Q1.
Wfg Advsr Limited Partnership owns 150 shares or 0% of their US portfolio. Peconic Partners Limited Co, a New York-based fund reported 327,000 shares. Advisory, a Illinois-based fund reported 20,100 shares. Piermont Cap Management accumulated 0.7% or 204,666 shares. Jpmorgan Chase accumulated 0% or 29,866 shares. Blackrock Invest Limited Liability Company accumulated 227,667 shares or 0% of the stock. Commerce Savings Bank holds 0% or 19,810 shares in its portfolio. Arizona State Retirement System owns 27,967 shares or 0.01% of their US portfolio. Rnc Limited Liability Company accumulated 12,270 shares or 0.02% of the stock. Moreover, Diam Limited has 0% invested in Flotek Industries Inc (NYSE:FTK) for 21,500 shares. Moreover, Deere And has 0.01% invested in Flotek Industries Inc (NYSE:FTK) for 18,840 shares. Us Bank De reported 2,768 shares or 0% of all its holdings. Barrow Hanley Mewhinney & Strauss Lc holds 0.05% or 2.49 million shares in its portfolio. Geode Mgmt Ltd Liability Com accumulated 0% or 349,657 shares. Products Prtnrs Ltd has 110,000 shares for 0.12% of their US portfolio.

Insider Transactions: Since September 6, 2016, the stock had 0 insider buys, and 1 insider sale for $160,098 net activity. Shares for $160,098 were sold by Cooper L Melvin on Tuesday, September 6.

More notable recent Flotek Industries Inc (NYSE:FTK) news were published by: which released: “Flotek Industries, Inc. Announces First Quarter, 2016 Financial and Operating …” on May 03, 2016, also with their article: “Flotek Industries, Inc. Announces Closing of $30 Million Common Stock Private …” published on July 29, 2016, published: “Flotek Industries, Inc. Announces $30 Million Common Stock Private Placement” on July 27, 2016. More interesting news about Flotek Industries Inc (NYSE:FTK) were released by: and their article: “Flotek Industries, Inc. Announces Release Of MHA Petroleum Consultants, LLC …” published on July 27, 2016 as well as‘s news article titled: “Why Flotek Industries Inc.’s Shares Jumped 18% Today” with publication date: May 04, 2016.

FTK Company Profile

Flotek Industries, Inc., incorporated on October 30, 2001, is a diversified, technology-driven firm that develops and supplies oilfield products, services and equipment to the oil, gas and mining industries. The Firm has four business divisions: Energy Chemistry Technologies, Consumer and Industrial Chemical Technologies, Drilling Technologies, and Production Technologies. It also develops and supplies compounds to companies that make cleaning products, cosmetics, food and beverages and other products for the consumer and industrial markets. The Company’s clients primarily include integrated oil and natural gas companies, oilfield service companies, independent oil and natural gas companies, pressure pumping service companies, international supply chain management companies, national and state-owned oil companies, household and commercial cleaning product companies, fragrance and cosmetic companies, and food manufacturing companies. It operates in over 20 domestic and international markets, including the Gulf Coast, Southwest, West Coast, Rocky Mountains, Northeastern and Mid-Continental regions of the United States, Canada, Mexico, Central America, South America, Europe, Africa, Middle East, Australia and Asia-Pacific.

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