Flotek Industries Inc. (FTK) saw a big move in the last trading session, as the company’s shares fell nearly 9% on the day. The move came on pretty good volume too with far more shares changing hands than in a normal session. This continues the recent trend for FTK, as the stock is now down over 21% in the past one-month time frame.
The oilfield services company has seen a mixed track record when it comes to current year estimate revisions over the past few weeks (0 increase, 1 decrease), while the consensus for earnings hasn’t been in a trend over the last 30 days. This recent price action is discouraging, so make sure to keep a close watch on this firm in the near future, and especially on earnings estimates following the recent slump.
FTK currently has a Zacks Rank #4 (Sell).
Investors interested in the Oils/Energy sector may consider better-ranked stocks like China Oilfield Services Ltd. (CHOLY), Murphy USA Inc. (MUSA) and Petrobras Argentina SA (PZE), each of which holds a Zacks Rank #1 (Strong Buy).
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