Flotek Industries, Inc. (NYSE:FTK) Short Interest Down 9.8% in March

Flotek Industries, Inc. (NYSE:FTK) was the recipient of a significant drop in short interest in March. As of March 31st, there was short interest totalling 423,100 shares, a drop of 9.8% from the March 15th total of 469,000 shares. Currently, 1.5% of the company’s stock are sold short. Based on an average daily trading volume, of 52,800 shares, the short-interest ratio is presently 8.0 days.

Analysts Set New Price Targets

Separately, TheStreet raised shares of Flotek Industries from a “d” rating to a “c-” rating in a research note on Wednesday, March 13th.

Flotek Industries Stock Down 2.3 %

Shares of Flotek Industries stock traded down $0.08 during trading hours on Wednesday, reaching $3.42. The company’s stock had a trading volume of 6,014 shares, compared to its average volume of 54,126. Flotek Industries has a one year low of $2.64 and a one year high of $5.70. The stock’s fifty day simple moving average is $3.31 and its two-hundred day simple moving average is $3.56.

Flotek Industries (NYSE:FTK) last announced its earnings results on Tuesday, March 12th. The oil and gas company reported $0.07 EPS for the quarter. The company had revenue of $42.19 million during the quarter. Flotek Industries had a net margin of 13.14% and a negative return on equity of 0.65%.

Institutional Trading of Flotek Industries

Institutional investors and hedge funds have recently made changes to their positions in the company. Jane Street Group LLC purchased a new stake in Flotek Industries during the third quarter worth about $31,000. B. Riley Wealth Advisors Inc. purchased a new stake in Flotek Industries during the third quarter worth about $32,000. Charles Schwab Investment Management Inc. purchased a new stake in Flotek Industries during the first quarter worth about $43,000. Pingora Partners LLC purchased a new stake in Flotek Industries during the fourth quarter worth about $46,000. Finally, Bank of America Corp DE increased its holdings in Flotek Industries by 11,418.7% during the first quarter. Bank of America Corp DE now owns 76,369 shares of the oil and gas company’s stock worth $53,000 after buying an additional 75,706 shares during the last quarter. Hedge funds and other institutional investors own 10.90% of the company’s stock.

Flotek Industries Company Profile

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).