Flotek Industries Inc (NYSE:FTK) does about 89.48K shares in volume on a normal day but saw 747173 shares change hands in the recent trading day. The company now has a market cap of 154.12M USD. Its current market price is $5.17, marking an increase of 9.53% compared to the previous close of $4.72. The 52 week high reached by this stock is $5.61 whilst the lowest price level in 52 weeks is $2.64.
Flotek Industries Inc (FTK) has a 20-day trading average at $4.30 and the current price is -7.84% off the 52-week high compared with 95.69% distance from its 52-week low. The 50-day simple moving average of the closing price is $4.41 and its 200-day simple moving average is $3.80. If we look at the stock’s price movements over the week, volatility stands at 8.09%, which decreases to 5.04% over 1 month. It is also key to look at other market indicators of price movement for the stock, where we see that the relative strength index (RSI) is at 73.13 to suggest the stock is overbought.
The consensus objective for the share price is $6.10, suggesting that the stock has a potential upside of 15.25% over the period.
The company shares received a number of brokerage firm price updates over the past month, with the latest being on July 25, 2024 when ROTH MKM initiated the stock to “Buy” and issued a price target of $6.50. Noble Capital Markets initiated its price target at $2.50.
The current price level is 21.48%, 17.45%, and 36.20% away from its SMA20, SMA50, and SMA200 respectively, with the FTK price moving below the 50-day SMA on current market day. Flotek Industries Inc (FTK) stock is up 25.18% over the week and 20.23% over the past month. Its price is 31.89% year-to-date and 11.90% over the past year.
The stock last released its quarterly earnings report for quarter ended 6/30/2024, with the company’s earnings per share (EPS) of 0.04 above consensus estimates by 0.03. The company’s next earnings report forecasts estimating quarterly EPS at 0.07 and 0.27 for whole year. Expected sales for next quarter are $51.85M, which analysts say will come at $186.81M for the current fiscal year and next year at $208.97M. In addition, estimates put the company’s current quarterly revenue at an average of $48.45M.
To reach the target analysts have set, the stock logically needs to grow 15.25 percent from here.
Outstanding shares total 29.66M with insiders holding 39.07% of the shares and institutional holders owning 14.90% of the company’s common stock. The company has a return on investment of 6.11% and return on equity of 6.78%. The price to earnings ratio (P/E ratio) amounts to 22.80 while the forward price to earnings ratio is 14.67. The beta has a value of 1.02. Price to book ratio is 1.45 and price to sales ratio is 0.88.
