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Thursday, November 26, 2020

The Last Few Sessions Have Flotek Industries Inc. (FTK) Soaring

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Flotek Industries Inc. (FTK) shares are trading at lower $1.97 and the avg recommendation for the stock is Hold, while the current analyst price target stands at $1.50.

To add more color to this target, the company’s high over the last year is $3.09 and the low is $0.66. Over the last 52 weeks, FTK is up 20.12% while the S&P 500 is up 15.13%. The catalyst for this interesting swing was the company’s recent earnings report.

A Notable Earnings Report

In the last quarter, FTK reported a profit of $58.33 million. Flotek Industries Inc. also saw revenues increase to $12.74 million. In addition, FTK has free cash flow of -$39.93 million as of 09-2020. The company’s EBITDA came in at -$45.08 million which compares well with its peers.

FTK Return on Equity (ROE) is -82.60%, and its Return on Assets is -65.50%. All told, it is clear that, FTK needs to be on your watchlist.

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Of course, we must look beyond the financials and question how well those numbers represent the sustainable earnings power of the business. Investors need to know how sustainable this current run. FTK has a short ratio of 7.48 and outstanding shares of 66.04M.

Company Outlook

FTK has seen increased volume after this news and investors are putting their support behind the value proposition. Furthermore, 10-day volume stands at 0.44 million and more growth is possible in the weeks ahead. Traders will also note the company’s earnings per share came in at -2.04. Flotek Industries Inc. FTK also noted assets of $98.47 million at the end of the last quarter. Investors should also keep an eye on sector updates as FTK has historically followed its peers on positive news.

All told, Flotek Industries Inc. FTK has strung together solid data and demonstrated underlying fundamentals. At its current valuation, FTK represents an interesting risk/reward case. Traders should stay tuned to see if this recent report will push the stock to test recent resistance levels.

Flotek Industries Inc. FTK is now commanding a market cap of 134.26M and a float of 64.51M. FTK is increasing its credibility in this sector and that could lead to more upside down the line. Sign-up for continuing coverage on shares of FTK stock, as well as other hot stock picks, get our free newsletter today and get our next breakout pick!

Disclosure: we hold no position in FTK, either long or short, and we have not been compensated for this article.

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