Flotek Industries, Inc. (NYSE:FTK)’s share price traded up 1.6% on Tuesday . The company traded as high as $5.23 and last traded at $5.19. 368,787 shares changed hands during mid-day trading, a decline of 64% from the average session volume of 1,037,850 shares. The stock had previously closed at $5.11.
Several research firms have recently commented on FTK. BidaskClub lowered shares of Flotek Industries from a “sell” rating to a “strong sell” rating in a report on Tuesday, July 25th. Seaport Global Securities restated a “buy” rating on shares of Flotek Industries in a research note on Thursday, July 20th. Zacks Investment Research downgraded Flotek Industries from a “buy” rating to a “hold” rating in a research report on Friday, June 23rd. Finally, ValuEngine downgraded Flotek Industries from a “hold” rating to a “sell” rating in a research report on Friday, June 2nd.
The firm has a 50 day moving average of $6.18 and a 200 day moving average of $9.62. The firm’s market capitalization is $298.41 million.
Hedge funds and other institutional investors have recently bought and sold shares of the business. Piedmont Investment Advisors LLC acquired a new stake in Flotek Industries during the 2nd quarter valued at $105,000. First Mercantile Trust Co. acquired a new position in shares of Flotek Industries in the first quarter worth $112,000. Municipal Employees Retirement System of Michigan increased its stake in shares of Flotek Industries by 5.8% in the second quarter. Municipal Employees Retirement System of Michigan now owns 12,790 shares of the oil and gas company’s stock worth $114,000 after acquiring an additional 700 shares during the last quarter. KCG Holdings Inc. acquired a new position in shares of Flotek Industries in the first quarter worth $137,000. Finally, BNP Paribas Arbitrage SA increased its stake in shares of Flotek Industries by 12.3% in the first quarter. BNP Paribas Arbitrage SA now owns 11,044 shares of the oil and gas company’s stock worth $141,000 after acquiring an additional 1,209 shares during the last quarter. 96.74% of the stock is currently owned by institutional investors.
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About Flotek Industries
Flotek Industries, Inc is a technology-driven company. The Company develops and supplies chemistry and services to the oil and gas industries, and compounds to companies that make cleaning products, cosmetics, food and beverages, and other products that are sold in consumer and industrial markets. The Company operates through two segments: Energy Chemistry Technologies (ECT), and Consumer and Industrial Chemistry Technologies (CICT).
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