Flotek Industries Inc. (NYSE:FTK) shares, rose in value on Wednesday, 10/13/21, with the stock price up by 0.98% to the previous day’s close as strong demand from buyers drove the stock to $1.03.
Actively observing the price movement in the last trading, the stock closed the session at $1.02, falling within a range of $1.00 and $1.08. The value of beta (5-year monthly) was 2.46. Referring to stock’s 52-week performance, its high was $3.09, and the low was $1.00. On the whole, FTK has fluctuated by -18.90% over the past month.
With the market capitalization of Flotek Industries Inc. currently standing at about $76.33 million, investors are eagerly awaiting this quarter’s results, scheduled for Nov 15, 2021 – Nov 19, 2021. As a result, investors might want to see an improvement in the stock’s price before the company announces its earnings report. Analysts are projecting the company’s earnings per share (EPS) to be -$0.08, which is expected to increase to -$0.07 for fiscal year -$0.38 and then to about -$0.13 by fiscal year 2022. Data indicates that the EPS growth is expected to be 43.30% in 2022, while the next year’s EPS growth is forecast to be 65.80%.
Analysts have estimated the company’s revenue for the quarter at $10.1 million, with a low estimate of $10.1 million and a high estimate of $10.1 million.
Revisions could be a useful indicator to get insight on short-term price movement; so for the company, there were no upward and no downward review(s) in last seven days. We see that FTK’s technical picture suggests that short-term indicators denote the stock is a 100% Sell on average. However, medium term indicators have put the stock in the category of 100% Sell while long term indicators on average have been pointing out that it is a 100% Sell.
2 analyst(s) have assigned their ratings of the stock’s forecast evaluation on a scale of 1.00-5.00 to indicate a strong buy to a strong sell recommendation. The stock is rated as a Hold by 1 analyst(s), 1 recommend it as a Buy and 0 called the FTK stock Overweight. In the meantime, 0 analyst(s) believe the stock as Underweight and 0 think it is a Sell. Thus, investors eager to increase their holdings of the company’s stock will have an opportunity to do so as the average rating for the stock is Overweight.
The stock’s technical analysis shows that the PEG ratio is about 0, with the price of FTK currently trading nearly -15.05% and -24.01% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 27.86, while the 7-day volatility ratio is showing 7.15% which for the 30-day chart, stands at 7.80%. Furthermore, Flotek Industries Inc. (FTK)’s beta value is 2.34, and its average true range (ATR) is 0.09. The company’s stock has been forecasted to trade at an average price of $2.13 over the course of the next 52 weeks, with a low of $1.75 and a high of $2.50. Based on these price targets, the low is -69.9% off current price, whereas the price has to move -142.72% to reach the yearly target high. Additionally, analysts’ median price of $2.13 is likely to be welcomed by investors because it represents a decrease of -106.8% from the current levels.
A comparison of Flotek Industries Inc. (FTK) with its peers suggests the former has fared considerably weaker in the market. FTK showed an intraday change of 0.98% in last session, and over the past year, it shrunk by -63.60%%. In comparison, Oil States International Inc. (OIS) has moved higher at 0.74% on the day and was up 149.08% over the past 12 months. On the other hand, the price of Schlumberger Limited (SLB) has fallen -0.36% on the day. The stock, however, is off 108.26% from where it was a year ago. Additionally, there is a gain of 0.54% for Ecolab Inc. (ECL) in last trading while the stock has seen an overall depriciation of 6.08%% over the past year. Other than that, the overall performance of the S&P 500 during the last trading session shows that it gained 0.30%. Meanwhile, the Dow Jones Industrial Slipped by 0.00%.
Data on historical trading for Flotek Industries Inc. (NYSE:FTK) indicates that the trading volumes over the past 10 days have averaged 0.66 million and over the past 3 months, they’ve averaged 200.23K. According to company’s latest data on outstanding shares, there are 69.53 million shares outstanding.
Nearly 5.50% of Flotek Industries Inc.’s shares belong to company insiders and institutional investors own 40.30% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 2.45 million shares as on Aug 12, 2021, resulting in a short ratio of 29.4. According to the data, the short interest in Flotek Industries Inc. (FTK) stood at 3.31% of shares outstanding as of Aug 12, 2021; the number of short shares registered in Jul 14, 2021 reached 2.41 million. The stock has fallen by -51.18% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the FTK stock heading into the next quarter.