Flotek Industries Inc. (NYSE: FTK): Stock That Needs Special Handling


Newtyn Management LLC recently announced the acquisition of new stake in Flotek Industries Inc. (NYSE:FTK). The institutional investor has increased its shareholding in the Energy company by 10.32% to 5.71 million shares with purchase of 0.53 million shares. This fresh investment now brings its stake to 8.00% valued currently at $7.88 million. In addition, North Sound Management, Inc. raised its holdings by 0.8 million to 4.3 million shares.

With over 1.76 million Flotek Industries Inc. (FTK) shares trading Tuesday and a closing price of $2.39 on the day, the dollar volume was approximately $4.21 million. The shares have shown a positive weekly performance of 53.21% and its price on 08/25/20 gained nearly 11.16%. Currently, there are 66.04M common shares owned by the public and among those 64.64M shares have been available to trade.

An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 1 analysts who have offered their price forecasts for FTK have a consensus price objective of $1.50. The analysts have set the share’s price value over the next 12 months at a high of $1.50 and a low of $1.50 should the stock experience a downside. Incidentally, analysts’ outlook for the Flotek Industries Inc. stock is 3.00 for the next 12 months. The average price target is -59.33% below its last price level and a downside to the estimated low will see the stock lose -59.33% over that period. But an upside of -59.33% will see the stock hit the forecast high price target while mean target price for the stock is $1.50.

Insiders at the company have transacted a total of 50 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 45 of these insider trades were purchases, accounting for 4,193,430 shares. Insider sales of the common stock occurred on 5 occasions, with total insider shares sold totaling 86,445 shares.

The top 3 mutual fund holders in Flotek Industries Inc. are Vanguard Total Stock Market Index, DFA US Core Equity 2 Portfolio, and DFA US Core Equity 1 Portfolio. Vanguard Total Stock Market Index owns 1.89 million shares of the company’s stock, all valued at over $2.61 million. DFA US Core Equity 2 Portfolio sold 12226.0 shares to see its total holdings shrink to 1.01 million shares valued at over $1.4 million and representing 1.42% of the shares outstanding. DFA US Core Equity 1 Portfolio now owns shares totaling to 1.36% of the shares outstanding.

Shares of Flotek Industries Inc. (NYSE: FTK) opened at $2.30, up $0.15 from a prior closing price of $2.15. However, the script later closed the day at $2.39, up 11.16%. The company’s stock has a 5-day price change of 53.21% and 127.62% over the past three months. FTK shares are trading 19.50% year to date (YTD), with the 12-month market performance up to 17.73% higher. It has a 12-month low price of $0.66 and touched a high of $2.64 over the same period. Currently, 1.76 million shares have been traded, compared to an average intraday trading volume of 560.67K shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 49.66%, 70.31%, and 70.97% respectively.

Institutional ownership of Flotek Industries Inc. (NYSE: FTK) shares accounts for 47.80% of the company’s 66.04M shares outstanding. Mutual fund holders own 16.63%, while other institutional holders and individual stakeholders account for 34.09% and 11.81% respectively.

It has a market capitalization of $165.44M and a beta (3y monthly) value of 2.99. The earnings-per-share (ttm) stands at -$2.04. Price movements for the stock have been influenced by the stock’s volatility, which stands at 12.36% over the week and 8.69% over the month.

Analysts forecast that Flotek Industries Inc. (FTK) will achieve an EPS of -$0.08 for the current quarter, -$0.06 for the next quarter and -$0.13 for 2021. The lowest estimate earnings-per-share for the quarter is -$0.08 while analysts give the company a high EPS estimate of -$0.08. Comparatively, EPS for the current quarter was -$0.18 a year ago. EPS should grow at an annualized rate of 10.00% over the next five years, compared to -30.80% over the past 5-year period.

If you are looking to buy this stock, then you may note that the average analyst recommendation by 1 brokerage firm advisors rate Flotek Industries Inc. (FTK) as a “Hold” at a consensus score of 3.00. Specifically, 0 Wall Street analysts polled rate the stock as a buy, while 1 of the 1 advise that investors “hold,” and 0 rated it as a “Sell.”

Looking at the support for the FTK, a number of firms have released research notes about the stock. Seaport Global Securities stated their Neutral rating for the stock in a research note on August 08, 2018, with the firm’s price target at. Seaport Global Securities coverage for the Flotek Industries Inc. (FTK) stock in a research note released on January 20, 2016 offered a Speculative Buy rating with a price target of $8. Oppenheimer was of a view on July 27, 2015 that the stock is Perform, while Oppenheimer gave the stock Underperform rating on April 24, 2015, issuing a price target of $12- $10. Oppenheimer on their part issued Underperform rating on March 04, 2015.


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