Flotek Industries Inc. (NYSE: FTK) is -26.07% lower on its value in year-to-date trading and has touched a low of $0.66 and a high of $3.09 in the current 52-week trading range. The question becomes, what are the chances the stock will make a comeback and enjoy potential growth. Why not look at analysts view on what the future holds for the stock. The FTK stock was last observed hovering at around $1.58 in the last trading session, with the day’s loss setting it -0.02% off its average median price target of $2.00 for the next 12 months. It is also 22.0% off the consensus price target high of $2.00 offered by 1 analysts, but current levels are 22.0% higher than the price target low of $2.00 for the same period.
Currently trading at $1.56, the stock is 1.30% and -18.11% below its SMA20 and SMA50 respectively. However, with a daily trading volume of 0.24 million and changing -1.27% at the moment leaves the stock -26.33% off its SMA200. FTK registered 75.22% gain for a year compared to 6-month loss of -38.82%. The firm has a 50-day simple moving average (SMA 50) of $2.1106 and a 200-day simple moving average (SMA200) of $2.2781.
The stock witnessed a -12.36% gain in the last 1 month and extending the period to 3 months gives it a -14.75%, and is 21.88% up over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 10.04% over the week and 7.72% over the month.
Flotek Industries Inc. (FTK) has around 147 employees, a market worth around $114.77M and $53.10M in sales. Distance from 52-week low is 137.48% and -49.51% from its 52-week high. The company has generated returns on investments over the last 12 months (-258.30%).
Flotek Industries Inc. (FTK) Analyst Forecasts
Analyst recommendations provided by FactSet shows that the consensus forecast for Flotek Industries Inc. (FTK) is a “Hold”. 1 analysts offering their recommendations for the stock have an average rating of 3.00, where 1 rate it as a Hold and 0 think it is a “Overweight”. 0 of the analysts rate the stock as a “Buy”. 0 analysts have rated the stock as a Sell or Underperform.
Flotek Industries Inc. is expected to release its quarterly report on 08/11/2021 and quarterly earnings per share for the current quarter are estimated at -$0.09.The EPS is expected to shrink by -54.30% this year.
Flotek Industries Inc. (FTK) Top Institutional Holders
69 institutions hold shares in Flotek Industries Inc. (FTK), with 6.95M shares held by insiders accounting for 9.96% while institutional investors hold 51.64% of the company’s shares. The shares outstanding are 69.06M, and float is at 66.28M with Short Float at 3.38%. Institutions hold 46.49% of the Float.
The top institutional shareholder in the company is Nierenberg Investment Management Company, Inc. with over 4.68 million shares valued at $9.88 million. The investor’s holdings represent 6.45% of the FTK Shares outstanding. As of Dec 30, 2020, the second largest holder is Dimensional Fund Advisors LP with 3.16 million shares valued at $6.66 million to account for 4.34% of the shares outstanding. The other top investors are Vanguard Group, Inc. (The) which holds 2.86 million shares representing 3.94% and valued at over $6.04 million, while Newtyn Management, LLC holds 3.84% of the shares totaling 2.79 million with a market value of $5.88 million.
Flotek Industries Inc. (FTK) Insider Activity
A total of 30 insider transactions have happened at Flotek Industries Inc. (FTK) in the last six months, with sales accounting for 10 and purchases happening 20 times. The most recent transaction is an insider purchase by Agadi Harshavardhan V, the company’s Director. SEC filings show that Agadi Harshavardhan V bought 40,000 shares of the company’s common stock on Nov 30 at a price of $2.07 per share for a total of $82800.0. Following the purchase, the insider now owns 62500.0 shares.
Flotek Industries Inc. disclosed in a document filed with the SEC on Nov 30 that Nierenberg David (Director) bought a total of 49,231 shares of the company’s common stock. The trade occurred on Nov 30 and was made at $2.05 per share for $0.1 million. Following the transaction, the insider now directly holds 3.01 million shares of the FTK stock.
Still, SEC filings show that on Nov 23, Nierenberg David (Director) acquired 149,560 shares at an average price of $1.99 for $0.3 million. The insider now directly holds 2,974,603 shares of Flotek Industries Inc. (FTK).
Flotek Industries Inc. (FTK): Who are the competitors?
The company’s main competitors (and peers) include Oil States International Inc. (OIS) that is trading 110.53% up over the past 12 months. Ecolab Inc. (ECL) is 12.39% up on the 1-year trading charts. Short interest in the company’s stock has risen 3.86% from the last report on Apr 14, 2021 to stand at a total of 2.24 million short shares sold with a short interest ratio of 5.8.