Flotek Industries Inc. (NYSE:FTK) marked $1.38 per share on Monday, down from a previous closing price of $1.41. While Flotek Industries Inc. has underperformed by -2.13%, investors are advised to look at stock chart patterns for technical insight. Within its last year performance, FTK rose by 48.37%, with highs and lows ranging from $1.97 to $0.68, whereas the simple moving average jumped by 18.75% in the last 200 days.
On July 01, 2021, Noble Capital Markets started tracking Flotek Industries Inc. (NYSE: FTK) recommending Outperform. A report published by Seaport Global Securities on August 08, 2018, Downgraded its rating to ‘Neutral’ for FTK. Seaport Global Securities also Upgraded FTK shares as ‘Speculative Buy’, setting a target price of $8 on the company’s shares in a report dated January 20, 2016. Oppenheimer July 27, 2015d the rating to Perform on July 27, 2015, and set its price target from $8 to $17. Oppenheimer resumed its ‘Underperform’ rating for FTK, as published in its report on April 24, 2015. Oppenheimer’s report from March 04, 2015 suggests a price prediction of $12 for FTK shares, giving the stock a ‘Underperform’ rating. Global Hunter Securities also rated the stock as ‘Accumulate’.
Analysis of Flotek Industries Inc. (FTK)
Further, the quarter-over-quarter increase in sales is 347.10%, showing a positive trend in the upcoming months.
In order to gain a clear picture of Flotek Industries Inc.’s future performance, a variety of well-rounded analysis and research techniques can be applied, with equity being the most critical. The goal here is to ensure that your current return on equity of -170.90% is sufficient for you to turn a profit off your investment. Taking into account the quick ratio of the company, currently set at 0.50, you can see that the company can cover any debts it may have, which can easily be seen in the annual report of the company.
An average volume of 296.58K can be a very valuable indicator of volatility for FTK stock. On a monthly basis, the volatility of the stock is set at 7.51%, whereas on a weekly basis, it is put at 12.00%, with a gain of 11.29% over the past seven days. Furthermore, long-term investors anticipate a median target price of $1.40, showing growth from the present price of $1.38, which can serve as yet another indication of whether FTK is worth investing in or should be passed over.
How Do You Analyze Flotek Industries Inc. Shares?
In addition to the fundamentals, you should also consider how many employees own shares in the company. This is because the values should be in line with investors’ expectations. As such, the current holdings of company stock inside the company are set at 2.70%. This can enable you to see the extent to which executives own the company’s stock. As opposed to executive stock, institutional ownership accounts for 36.00% of the company’s shares, contributing to an indication of company value, since large shareholders may signify strength within the organization.
Are institutional investors increasing their holdings in FTK shares?
The recent increase in stakes in FTK appears to be a result of several institutional investors and hedge funds increasing their positions. North Sound Management, Inc. made another decreased to its shares in FTK during the first quarter, downing its stake by -31.66%. During the last quarter, the company dropped down -2,582,067 additional shares for a total stake of worth $6.24 million, bringing number of shares owned by the company to 5,573,036.
At the end of the first quarter, Dimensional Fund Advisors LP decreased its FTK holdings by -8.62% and now holds 1.78 million FTK shares valued at $2.0 million with the lessened -0.17 million shares during the period. FTK shares are owned by institutional investors to the tune of 36.00% at present.