Flotek Industries (NYSE:FTK) Stock Passes Above 200 Day Moving Average – Should You Sell?

Flotek Industries, Inc. (NYSE:FTK)’s stock price crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $6.81 and traded as high as $7.88. Flotek Industries shares last traded at $7.76, with a volume of 254,228 shares changing hands.

Wall Street Analyst Weigh In

Separately, Roth Mkm increased their target price on Flotek Industries from $6.50 to $8.00 and gave the company a “buy” rating in a report on Thursday, November 7th.

Flotek Industries Stock Down 0.9 %

The firm has a market capitalization of $231.16 million, a PE ratio of 29.84 and a beta of 1.18. The business’s 50-day moving average price is $8.76 and its 200-day moving average price is $6.81.

Institutional Investors Weigh In On Flotek Industries

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in FTK. Hillsdale Investment Management Inc. acquired a new position in shares of Flotek Industries in the fourth quarter worth $4,418,000. Geode Capital Management LLC boosted its position in Flotek Industries by 1.7% during the fourth quarter. Geode Capital Management LLC now owns 302,539 shares of the oil and gas company’s stock valued at $2,885,000 after purchasing an additional 5,056 shares during the last quarter. Acuitas Investments LLC purchased a new position in Flotek Industries in the fourth quarter valued at about $2,586,000. Truist Financial Corp increased its position in Flotek Industries by 3.6% in the 4th quarter. Truist Financial Corp now owns 244,209 shares of the oil and gas company’s stock worth $2,327,000 after purchasing an additional 8,500 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in shares of Flotek Industries by 71.0% during the 4th quarter. Dimensional Fund Advisors LP now owns 145,678 shares of the oil and gas company’s stock worth $1,388,000 after purchasing an additional 60,504 shares in the last quarter. Hedge funds and other institutional investors own 10.90% of the company’s stock.

About Flotek Industries

Flotek Industries, Inc operates as a technology-driven green chemistry and data company that serves customers across industrial and commercial markets in the United States, the United Arab Emirates, and internationally. It operates through two segments: Chemistry Technologies (CT) and Data Analytics (DA).