1.84 is Flotek Industries Inc’s (NYSE:FTK) Institutional Investor Sentiment

January 21, 2018 - By Hazel Jackson

 1.84 is Flotek Industries Inc's (NYSE:FTK) Institutional Investor Sentiment

Sentiment for Flotek Industries Inc (NYSE:FTK)

Flotek Industries Inc (NYSE:FTK) institutional sentiment increased to 1.84 in 2017 Q3. Its up 0.59, from 1.25 in 2017Q2. The ratio increased, as 81 hedge funds opened new and increased equity positions, while 44 sold and decreased stock positions in Flotek Industries Inc. The hedge funds in our partner’s database now possess: 47.40 million shares, down from 55.22 million shares in 2017Q2. Also, the number of hedge funds holding Flotek Industries Inc in their top 10 equity positions decreased from 1 to 0 for a decrease of 1. Sold All: 21 Reduced: 23 Increased: 51 New Position: 30.

Flotek Industries, Inc. develops and supplies chemistry and services to the gas and oil industries in the United States and internationally. The company has market cap of $320.50 million. It operates through two divisions, Energy Chemistry Technologies and Consumer and Industrial Chemistry Technologies. It currently has negative earnings. The Energy Chemistry Technologies segment is involved in the design, development, manufacture, packaging, and marketing of chemistries under the Complex nano-Fluid brand name for use in gas and oil well drilling, cementing, completion, stimulation, and production activities, as well as for use in enhanced and improved oil recovery markets.

The stock increased 0.53% or $0.03 during the last trading session, reaching $5.64. About 676,891 shares traded. Flotek Industries, Inc. (NYSE:FTK) has declined 6.33% since January 21, 2017 and is downtrending. It has underperformed by 23.03% the S&P500.

Analysts await Flotek Industries, Inc. (NYSE:FTK) to report earnings on February, 14. They expect $-0.05 earnings per share, up 16.67 % or $0.01 from last year’s $-0.06 per share. After $-0.03 actual earnings per share reported by Flotek Industries, Inc. for the previous quarter, Wall Street now forecasts 66.67 % negative EPS growth.

Northpointe Capital Llc holds 0.77% of its portfolio in Flotek Industries, Inc. for 1.56 million shares. Gates Capital Management Inc. owns 5.70 million shares or 0.75% of their US portfolio. Moreover, Bruce & Co. Inc. has 0.69% invested in the company for 664,335 shares. The Massachusetts-based Nbw Capital Llc has invested 0.33% in the stock. Peconic Partners Llc, a New York-based fund reported 442,837 shares.#img1#

Flotek Industries, Inc. (NYSE:FTK) Ratings Coverage

Ratings analysis reveals 83% of Flotek Industries’s analysts are positive. Out of 6 Wall Street analysts rating Flotek Industries, 5 give it “Buy”, 0 “Sell” rating, while 1 recommend “Hold”. The lowest target is $7.0 while the high is $26. The stock’s average target of $14.23 is 152.30% above today’s ($5.64) share price. FTK was included in 11 notes of analysts from July 27, 2015. On Tuesday, September 22 the stock rating was upgraded by Vetr to “Buy”. On Wednesday, January 17 the stock rating was maintained by Seaport Global with “Buy”. Vetr downgraded it to “Buy” rating and $17.89 target in Thursday, August 6 report. Seaport Global Securities upgraded Flotek Industries, Inc. (NYSE:FTK) rating on Wednesday, January 20. Seaport Global Securities has “Speculative Buy” rating and $8 target. On Monday, December 14 the stock rating was initiated by KLR Group with “Buy”. Oppenheimer upgraded the shares of FTK in report on Monday, July 27 to “Perform” rating. Oppenheimer maintained it with “Perform” rating and $18 target in Wednesday, October 7 report. The stock has “Strong-Buy” rating by Vetr on Friday, August 28.

More notable recent Flotek Industries, Inc. (NYSE:FTK) news were published by: Prnewswire.com which released: “Flotek Industries, Inc. Announces Conclusion Of SEC Inquiry” on August 22, 2017, also Prnewswire.com with their article: “Flotek Industries, Inc. Provides Update On Third Quarter Expectations” published on September 25, 2017, Prnewswire.com published: “Flotek Industries Announces Death of Past Executive Jerry D. Dumas, Sr.” on January 03, 2018. More interesting news about Flotek Industries, Inc. (NYSE:FTK) were released by: Prnewswire.com and their article: “Flotek Industries Provides Fourth Quarter And Operational Update” published on January 16, 2018 as well as Prnewswire.com‘s news article titled: “Flotek Industries, Inc. Announces Third Quarter 2017 Results” with publication date: November 08, 2017.

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