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Boom Or Bust: Where Does Flotek Industries Inc. (NYSE: FTK) Stock Go From Here?

During the last session, Flotek Industries Inc. (NYSE:FTK)’s traded shares were 0.12 million, with the beta value of the company hitting 1.92. At the end of the trading day, the stock’s price was $1.23, reflecting an intraday gain of 1.65% or $0.02. The 52-week high for the FTK share is $1.97, that puts it down -60.16 from that peak though still a striking 56.91% gain since the share price plummeted to a 52-week low of $0.53. The company’s market capitalization is $91.64M, and the average intraday trading volume over the past 10 days was 0.15 million shares, and the average trade volume was 391.52K shares over the past three months.

Flotek Industries Inc. (FTK) received a consensus recommendation of an Overweight from analysts. That translates to a mean rating of 2.50. FTK has a Sell rating from 0 analyst(s) out of 2 analysts who have looked at this stock. 1 analyst(s) recommend to Hold the stock while 0 suggest Overweight, and 1 recommend a Buy rating for it. 0 analyst(s) has rated the stock Underweight. Company’s earnings per share (EPS) for the current quarter are expected to be -$0.1.

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Flotek Industries Inc. (NYSE:FTK) trade information

Flotek Industries Inc. (FTK) registered a 1.65% upside in the last session and has traded in the green over the past 5 sessions. The stock spiked 1.65% in intraday trading to $1.23 this Friday, 08/05/22, hitting a weekly high. The stock’s 5-day price performance is 10.81%, and it has moved by 23.00% in 30 days. Based on these gigs, the overall price performance for the year is -28.07%. The short interest in Flotek Industries Inc. (NYSE:FTK) is 2.98 million shares and it means that shorts have 12.37 day(s) to cover.

The consensus price target of analysts on Wall Street is $2.20, which implies an increase of 44.09% to the stock’s current value. The extremes of the forecast give a target low and a target high price of $1.40 and $3.00 respectively. As a result, FTK is trading at a discount of -143.9% off the target high and -13.82% off the low.

Flotek Industries Inc. (FTK) estimates and forecasts

Statistics show that Flotek Industries Inc. has outperformed its competitors in share price, compared to the industry in which it operates. Flotek Industries Inc. (FTK) shares have gone up 49.25% during the last six months, with a year-to-date growth rate more than the industry average at 80.00% against 15.10. In the rating firms’ projections, revenue will increase 213.60% compared to the previous financial year.

Revenue for the current quarter is expected to be $22.8 million as predicted by 1 analyst(s). Meanwhile, a consensus of 1 analyst(s) estimates revenue growth to $44.5 million by the end of Sep 2022. As per earnings report from last fiscal year’s results, sales for the corresponding quarters totaled $12.6 million and $10.1 million respectively. In this case, analysts expect current quarter sales to grow by 81.00% and then jump by 340.60% in the coming quarter.

An analysis of the company’s performance over the past 5 years shows that the company’s earnings shrunk an estimated -39.30%. While earnings are projected to return 79.20% in 2022, the next five years will return 10.00% per annum.

FTK Dividends

Flotek Industries Inc. is due to release its next quarterly earnings between March 14 and March 18. However, it is important to remember that the dividend yield ratio is merely an indicator meant to only serve as guidance.

Flotek Industries Inc. (NYSE:FTK)’s Major holders

Flotek Industries Inc. insiders own 7.19% of total outstanding shares while institutional holders control 37.34%, with the float percentage being 40.23%. Nierenberg Investment Management Company, Inc. is the largest shareholder of the company, while 57 institutions own stock in it. As of Mar 30, 2022, the company held over 7.63 million shares (or 9.96% of all shares), a total value of $9.62 million in shares.

The next largest institutional holding, with 2.78 million shares, is of Vanguard Group, Inc. (The)’s that is approximately 3.63% of outstanding shares. At the market price on Mar 30, 2022, these shares were valued at $3.5 million.

Also, the Mutual Funds coming in first place with the largest holdings of Flotek Industries Inc. (FTK) shares are Vanguard Total Stock Market Index Fund and Vanguard Extended Market Index Fund. Data provided on Mar 30, 2022 indicates that Vanguard Total Stock Market Index Fund owns about 1.76 million shares. This amounts to just over 2.29 percent of the company’s overall shares, with a $2.22 million market value. The same data shows that the other fund manager holds slightly less at 0.94 million, or about 1.23% of the stock, which is worth about $1.19 million.

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