Flotek Industries, Inc. Sees Notable Decline in Short Interest

Flotek Industries, Inc. (NYSE:FTK) experienced a significant decrease in short interest during January. As of January 31st, the total short interest stood at 609,500 shares, down 7.3% from the 657,800 shares reported on January 15th. Currently, about 2.1% of the company's shares are sold short. The average trading volume of 245,400 shares indicates that the days-to-cover ratio sits at approximately 2.5 days.

Flotek Industries Stock Performance

On Monday, Flotek Industries' stock saw a decline, dropping by $0.12 to reach a price of $9.04. The trading volume for the day was 164,168 shares, which is less than its average volume of 213,614. The company has a market capitalization of $269.24 million. Its P/E ratio is recorded at 34.75, and it has a beta value of 1.18. Additionally, the stock has a 50-day moving average price of $8.72 and a two-hundred-day moving average of $6.63. Flotek Industries' stock has seen a yearly low of $2.64 and a high of $10.35.

Analyst Ratings Changes

In a separate analysis, Roth MKM raised its price target for Flotek Industries from $6.50 to $8.00, assigning the stock a "buy" rating in a report published on November 7th.

Institutional Trading of Flotek Industries

Recently, multiple large investors have adjusted their stakes in Flotek Industries. For instance, Tower Research Capital LLC TRC entered a new position during the fourth quarter worth $42,000. Likewise, XTX Topco Ltd acquired shares valued at $53,000 in the third quarter, and Point72 Asia Singapore Pte. Ltd. purchased $57,000 in stock in the fourth quarter. Wilmington Savings Fund Society FSB invested approximately $60,000 in Flotek during the third quarter, while Barclays PLC acquired shares worth about $66,000 in the same timeframe. Currently, institutional investors hold 10.90% of the company's stock.

About Flotek Industries

Flotek Industries, Inc. operates as a technology-focused green chemistry and data firm, providing services to various industrial and commercial sectors both within the United States and internationally, including markets in the United Arab Emirates. The company functions through two primary segments: Chemistry Technologies (CT) and Data Analytics (DA).

Flotek, stocks, shortinterest