Flotek Industries (NASDAQ: FTK) Market Updates

Flotek Industries day trading at USD 1.3 per share, then rallying to 1.34 and closing at USD 1.2 per share. A net loss of -7.69% for the day. Long term pricing analysis shows the stock trading at 60.71% lower than it’s 52week high and -77.27% higher than the 52week low. The share volume traded for the day was 827K which was 1 times the 50 Day Average Volume.

Flotek Industries had a market cap of 84,516K as of 30th June 2020. The Earnings Per Share (EPS) for Q4 2019 is $-2.19.

Flotek Industries is a technology-driven company. The Company develops and supplies chemistry and services to the oil and gas industries, and compounds to companies that make cleaning products, cosmetics, food and beverages, and other products that are sold in consumer and industrial markets.

Financial Results

Flotek Industries Reports First Quarter Of Fiscal 2020.

  • Flotek generated the first quarter 2020 revenue of $19.4 million for three months ended March 31, 2020, compared to $43.3 million in the first quarter 2019 and declined 0.6% from $19.5 million on a sequential basis.
  • Reported a loss from continuing operations for the first quarter 2020 of $64.0 million, or a loss of $1.07 per diluted share, compared to a loss from continuing operations in the first quarter 2019 of $15.2 million, or a loss of $0.26 per diluted share. The loss of $64.0 million included a nonrecurring charge of $57.5 million related to the impairment of property, plant, and equipment, right-of-use assets, and intangible assets.
  • Operating expenses were $22.8 million in the first quarter 2020 compared to $44.0 million in the same period last year, primarily reflecting lower fixed and variable costs, partially offset by a non-recurring charge of $2.3 million during the first quarter of 2020, which is comprised of $0.8 million related to a loss on terpene purchase commitments and $1.5 million related to an incremental reserve against terpene inventory on hand.
  • Corporate general and administrative expense for the first quarter of 2020 was $4.5 million compared to $7.3 million for the first quarter of 2019. Included in the first quarter was $0.5 million of severance versus $1.6 million in the first quarter of the prior year.
  • Adjusted EBITDA for the first quarter 2020 was a loss of $6.5 million versus a loss of $7.6 million for the first quarter of 2019 and improved 15% on a sequential basis driven by headcount and expense reductions in freight, equipment rentals, and travel and entertainment.

Flotek Industries (30th June 2020): The Institutional Ownership as of today stood at 43.23% and the Total Value of Holdings (millions) is $ 39

New Institutional Holders and other activity – As of today, the total number of shares held is, 30,445,108 by 90 institutional holders.

LATEST NEWS:

9-June-2020:- Flotek Industries (NYSE: FTK) Shares Gap Up to $1.54

Flotek Industries Inc (NYSE: FTK)’s stock price gapped up before the market opened on Tuesday. The stock had previously closed at $1.82 but opened at $1.54. Flotek Industries shares last traded at $1.38, with a volume of 18,621 shares changing hands.

21-May-2020:- Flotek Industries (NYSE: FTK) Shares Gap Up to $0.92 – Modern Readers

Flotek Industries Inc (NYSE: FTK) shares gapped up before the market opened on Tuesday. The stock had previously closed at $0.80 but opened at $0.92. Flotek Industries shares last traded at $1.00, with a volume of 3,749,315 shares traded. The company’s fifty-day moving average is $0.86 and its 200-day moving average is $1.48.

19-May-2020:- Flotek Announces First Quarter Earnings Results

Flotek generated the first quarter 2020 revenue of $19.4 million for three months ended March 31, 2020, compared to $43.3 million in the first quarter 2019 and declined 0.6% from $19.5 million on a sequential basis. Reported a loss from continuing operations for the first quarter 2020 of $64.0 million, or a loss of $1.07 per diluted share, compared to a loss from continuing operations in the first quarter 2019 of $15.2 million, or a loss of $0.26 per diluted share.

 

 

Leave a Reply

Your email address will not be published. Required fields are marked *