Flotek Industries (NYSE:FTK) Stock Passes Above 200-Day Moving Average of $3.53

Flotek Industries, Inc. (NYSE:FTK) passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $3.53 and traded as high as $3.55. Flotek Industries shares last traded at $3.50, with a volume of 33,038 shares trading hands.

Analyst Ratings Changes

Separately, TheStreet upgraded shares of Flotek Industries from a “d” rating to a “c-” rating in a research report on Wednesday, March 13th.

Flotek Industries Price Performance

The company’s 50-day moving average price is $3.37 and its two-hundred day moving average price is $3.53. The company has a market capitalization of $103.81 million, a price-to-earnings ratio of -26.93 and a beta of 1.07.

Flotek Industries (NYSE:FTK) last posted its quarterly earnings data on Tuesday, March 12th. The oil and gas company reported $0.07 earnings per share for the quarter. The company had revenue of $42.19 million during the quarter. Flotek Industries had a net margin of 13.14% and a negative return on equity of 0.65%.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Pingora Partners LLC bought a new stake in Flotek Industries during the 4th quarter valued at $46,000. Sanders Morris Harris LLC acquired a new position in shares of Flotek Industries during the first quarter valued at about $223,000. Segment Wealth Management LLC bought a new stake in shares of Flotek Industries during the fourth quarter worth about $241,000. Finally, Masters Capital Management LLC increased its position in shares of Flotek Industries by 44.4% during the fourth quarter. Masters Capital Management LLC now owns 481,476 shares of the oil and gas company’s stock worth $1,887,000 after acquiring an additional 148,140 shares in the last quarter. 10.90% of the stock is owned by institutional investors and hedge funds.

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).