Stock of the Day: Will Flotek Industries Inc Short Squeeze Soon?

Stock of the Day: Will Flotek Industries Inc Short Squeeze Soon?

The stock of Flotek Industries Inc (NYSE:FTK) is a huge mover today! About 184,161 shares traded hands. Flotek Industries Inc (NYSE:FTK) has risen 76.80% since March 11, 2016 and is uptrending. It has outperformed by 71.34% the S&P500.
The move comes after 7 months negative chart setup for the $779.58M company. It was reported on Oct, 14 by Barchart.com. We have $12.61 PT which if reached, will make NYSE:FTK worth $70.16 million less.

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. The firm earned “Perform” rating on Monday, July 27 by Oppenheimer. The firm earned “Buy” rating on Tuesday, September 22 by Vetr. The company was maintained on Wednesday, October 7 by Oppenheimer. KLR Group initiated it with “Buy” rating and $14.50 target price in Monday, December 14 report. The firm has “Buy” rating by Vetr given on Thursday, August 6. The firm earned “Strong-Buy” rating on Friday, August 28 by Vetr. The stock of Flotek Industries Inc (NYSE:FTK) earned “Speculative Buy” rating by Seaport Global Securities on Wednesday, January 20.

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 is 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.
Blackrock Inv Mgmt Limited Liability Co holds 227,667 shares or 0% of its portfolio. Advisory Research holds 0% or 20,100 shares in its portfolio. The New York-based New York State Teachers Retirement System has invested 0% in Flotek Industries Inc (NYSE:FTK). Us Bank & Trust De last reported 2,768 shares in the company. American Int Group Incorporated holds 39,041 shares or 0% of its portfolio. Morgan Stanley accumulated 0% or 17,624 shares. Bruce & last reported 2.24% of its portfolio in the stock. Aperio Group Limited Liability Com has 17,125 shares for 0% of their US portfolio. Great West Life Assurance Can has invested 0% of its portfolio in Flotek Industries Inc (NYSE:FTK). Epoch Invest Prtn Inc has invested 0.04% of its portfolio in Flotek Industries Inc (NYSE:FTK). Ls Invest Advsr holds 0% of its portfolio in Flotek Industries Inc (NYSE:FTK) for 1,942 shares. Blackrock last reported 60,470 shares in the company. D E Shaw And Inc holds 10,455 shares or 0% of its portfolio. Arrowpoint Asset Mngmt Limited Liability Corporation has 0.07% invested in the company for 260,790 shares. Peconic Prtn Limited Liability Corp reported 327,000 shares or 0.54% of all its holdings.

Insider Transactions: Since September 6, 2016, the stock had 0 buys, and 1 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: Prnewswire.com which released: “Flotek Industries Announces Presentation at the IPAA Oil & Gas Investment …” on September 26, 2016, also Prnewswire.com with their article: “Flotek Industries, Inc. Announces First Quarter, 2016 Financial and Operating …” published on May 03, 2016, Prnewswire.com published: “Flotek Industries, Inc. Announces Closing of $30 Million Common Stock Private …” on July 29, 2016. More interesting news about Flotek Industries Inc (NYSE:FTK) were released by: Prnewswire.com and their article: “Flotek Industries Announces Presentation at the Johnson Rice Energy Conference” published on September 21, 2016 as well as Prnewswire.com‘s news article titled: “Flotek Industries, Inc. Announces $30 Million Common Stock Private Placement” with publication date: July 27, 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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