Short Interest in Flotek Industries, Inc. (NYSE:FTK) Rises By 7.3%

Flotek Industries, Inc. (NYSE:FTK) was the target of a significant growth in short interest in the month of November. As of November 30th, there was short interest totalling 553,100 shares, a growth of 7.3% from the November 15th total of 515,700 shares. Based on an average daily trading volume, of 158,100 shares, the short-interest ratio is presently 3.5 days. Approximately 1.9% of the company’s shares are sold short.

Flotek Industries Stock Performance

NYSE FTK traded down $0.25 during trading hours on Tuesday, hitting $7.75. 111,986 shares of the company’s stock were exchanged, compared to its average volume of 92,866. The firm has a market capitalization of $230.92 million, a P/E ratio of 29.73 and a beta of 1.24. The business’s 50 day moving average is $6.71 and its 200-day moving average is $5.32. Flotek Industries has a 12-month low of $2.64 and a 12-month high of $9.14.

Flotek Industries (NYSE:FTK) last announced its quarterly earnings data on Monday, November 4th. The oil and gas company reported $0.08 earnings per share for the quarter, topping the consensus estimate of $0.07 by $0.01. Flotek Industries had a net margin of 4.58% and a return on equity of 7.76%. The business had revenue of $49.74 million for the quarter, compared to analyst estimates of $50.40 million. During the same period in the prior year, the firm posted $0.04 EPS. As a group, equities research analysts anticipate that Flotek Industries will post 0.29 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Separately, Roth Mkm lifted their target price on shares of Flotek Industries from $6.50 to $8.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th.

Hedge Funds Weigh In On Flotek Industries

A number of hedge funds have recently made changes to their positions in the stock. XTX Topco Ltd purchased a new position in shares of Flotek Industries in the 3rd quarter worth $53,000. Wilmington Savings Fund Society FSB acquired a new stake in Flotek Industries during the third quarter worth about $60,000. Barclays PLC purchased a new position in shares of Flotek Industries in the 3rd quarter worth about $66,000. PDT Partners LLC acquired a new position in shares of Flotek Industries in the 3rd quarter valued at about $86,000. Finally, Sanders Morris Harris LLC purchased a new stake in shares of Flotek Industries during the 3rd quarter worth about $137,000. Institutional investors and hedge funds 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).