Key Points
- Director Harshavardhan Agadi sold 66,956 shares on November 13 at an average of $14.71 for a total of about $984,923, cutting his stake by 25.34% to 197,265 shares (SEC filing).
- Flotek beat expectations for the quarter, reporting EPS $0.20 vs. $0.15 estimated and revenue of $56.03 million vs. $52.90 million, with analysts projecting roughly $0.29 EPS for the fiscal year.
- FTK is trading around $14.86 with a market cap of about $446.5M; the stock has a consensus analyst rating of "Buy" and a $17.50 consensus price target after recent upgrades.
Flotek Industries, Inc. (NYSE:FTK - Get Free Report) Director Harshavardhan Agadi sold 66,956 shares of the firm's stock in a transaction that occurred on Thursday, November 13th. The shares were sold at an average price of $14.71, for a total transaction of $984,922.76. Following the completion of the sale, the director owned 197,265 shares in the company, valued at $2,901,768.15. This represents a 25.34% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
Flotek Industries Trading Up 0.1%
NYSE FTK traded up $0.02 on Friday, hitting $14.86. The company's stock had a trading volume of 325,786 shares, compared to its average volume of 406,218. The company's 50-day moving average is $14.88 and its 200 day moving average is $13.73. The firm has a market cap of $446.51 million, a PE ratio of 33.76 and a beta of 1.17. Flotek Industries, Inc. has a 1-year low of $6.05 and a 1-year high of $18.96. The company has a quick ratio of 1.36, a current ratio of 1.59 and a debt-to-equity ratio of 0.55.
Flotek Industries (NYSE:FTK - Get Free Report) last announced its earnings results on Tuesday, November 4th. The oil and gas company reported $0.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.15 by $0.05. Flotek Industries had a return on equity of 17.67% and a net margin of 6.59%.The business had revenue of $56.03 million during the quarter, compared to analyst estimates of $52.90 million. Flotek Industries has set its FY 2025 guidance at EPS. As a group, analysts predict that Flotek Industries, Inc. will post 0.29 earnings per share for the current fiscal year.
Analysts Set New Price Targets
A number of analysts have commented on FTK shares. Northland Capmk raised shares of Flotek Industries from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, August 6th. Northland Securities upgraded shares of Flotek Industries from a "market perform" rating to an "outperform" rating and set a $16.00 price objective for the company in a research note on Wednesday, August 6th. Weiss Ratings reiterated a "hold (c)" rating on shares of Flotek Industries in a research report on Wednesday, October 8th. Finally, Wall Street Zen upgraded shares of Flotek Industries from a "hold" rating to a "buy" rating in a report on Saturday, November 8th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Buy" and a consensus target price of $17.50.
Get Our Latest Stock Report on Flotek Industries
Institutional Investors Weigh In On Flotek Industries
Institutional investors and hedge funds have recently made changes to their positions in the business. Police & Firemen s Retirement System of New Jersey purchased a new position in shares of Flotek Industries during the second quarter valued at approximately $50,000. Victory Capital Management Inc. bought a new stake in Flotek Industries in the 1st quarter worth about $96,000. New York State Common Retirement Fund purchased a new stake in Flotek Industries in the 2nd quarter valued at about $102,000. Bard Associates Inc. bought a new position in shares of Flotek Industries during the 1st quarter worth approximately $111,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new position in shares of Flotek Industries in the 2nd quarter worth approximately $115,000. Institutional investors and hedge funds own 10.90% of the company's stock.
About Flotek Industries
(
Get Free Report)
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).
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