Flotek Industries, Inc. (NYSE:FTK) short interest fell 6.1% in August

Flotek Industries, Inc. (NYSE:FTK – Get Free Report ) was the beneficiary of a significant drop in short interest in August. As of August 31st, there was short interest totaling 497,600 shares, a decrease of 6.1% from the August 15th total of 530,000 shares. Currently, 1.7% of the company’s shares are short sold. Based on an average daily volume of 91,800 shares, the short interest rate is currently 5.4 days.

Flotek Industries stock performance

Shares of FTK stock opened at $5.15 on Thursday. The company’s 50-day simple moving average is $4.41, and its two-hundred-day simple moving average is $4.06. Flotek Industries has a 52 week low of $2.64 and a 52 week high of $5.61. The firm has a market cap of $152.59 million, a price-to-earnings ratio of 128.63 and a beta of 1.03.

Flotek Industries (NYSE:FTK – Get Free Report ) last posted its earnings results on Tuesday, August 6th. The oil and gas company reported $0.06 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.06. Flotek Industries had a net margin of 3.94% and a return on equity of 6.73%. The firm had revenue of $46.15 million during the quarter, compared to analyst estimates of $46.60 million. In the same quarter last year, the company earned ($0.24) earnings per share. Analysts forecast that Flotek Industries will post 0.27 earnings per share for the current year.

Analysts set new price targets

A number of research analysts recently weighed in on the company. Roth Capital upgraded Flotek Industries to a “strong-buy” rating in a report on Thursday, July 25th. Roth Mkm initiated coverage on shares of Flotek Industries in a research note on Thursday, July 25th. They issued a “buy” rating and a $6.50 price objective for the company. One analyst has rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $6.75.

Read the latest stock analysis on Flotek Industries

Institutional trading of Flotek Industries

Institutional investors have recently added to or reduced their holdings in the stock. Masters Capital Management LLC raised its position in shares of Flotek Industries by 44.4% in 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 purchasing an additional 148,140 shares during the last quarter. Sanders Morris Harris LLC acquired a new position in shares of Flotek Industries in the first quarter worth approximately $223,000. Vanguard Group Inc. boosted its holdings in shares of Flotek Industries by 7.9% in the first quarter. Vanguard Group Inc. now owns 545,246 shares of the oil and gas company’s stock worth $2,039,000 after acquiring an additional 39,695 shares during the last quarter. Finally, Pinora Partners LLC purchased a new stake in shares of Flotek Industries in the 4th quarter valued at $46,000. Hedge funds and other institutional investors own 10.90% of the company’s shares.

About Flotek Industries

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Flotek Industries, Inc operates as an environmentally friendly chemical and data technology company serving customers in the industrial and commercial markets in the United States, UAE and internationally. It operates through two segments: Chemical Technologies (CT) and Data Analytics (DA).

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