Flotek Industries (FTK) shares soared 9.5% within the final buying and selling session to shut at $5.17. The transfer was backed by strong quantity with much more shares altering fingers than in a standard session. This compares to the inventory’s 11.1% acquire over the previous 4 weeks.
The surge will be attributed to Flotek’s specialization in inexperienced chemistry, which affords revolutionary options geared toward lowering the environmental influence of the power sector. Governments and power firms worldwide are more and more specializing in lowering the emissions and the environmental influence of the business, and Flotek aligns with this international pattern by providing distinctive options designed to deal with these challenges. The corporate manufactures specialty chemical substances made for each unbiased power producers and oilfield service firms in home in addition to worldwide markets. These chemical substances not solely assist scale back the environmental influence of hydrocarbon manufacturing but in addition decrease operational prices. This has been a major development driver for the corporate.
This oilfield companies firm is predicted to publish quarterly earnings of $0.07 per share in its upcoming report, which represents a year-over-year change of +75%. Revenues are anticipated to be $50.4 million, up 6.6% from the year-ago quarter.
Earnings and income development expectations actually give a very good sense of the potential energy in a inventory, however empirical analysis exhibits that traits in earnings estimate revisions are strongly correlated with near-term inventory worth actions.
For Flotek Industries, the consensus EPS estimate for the quarter has remained unchanged during the last 30 days. And a inventory’s worth normally would not hold shifting greater within the absence of any pattern in earnings estimate revisions. So, make sure that to regulate FTK going ahead to see if this latest leap can flip into extra energy down the street.
The inventory at the moment carries a Zacks Rank #3 (Maintain). You may see the complete list of today’s Zacks Rank #1 (Strong Buy) stocks here >>>>
Flotek Industries belongs to the Zacks Oil and Gasoline – Area Providers business. One other inventory from the identical business, Solaris Oilfield Infrastructure, Inc. (SEI), closed the final buying and selling session 6.1% greater at $12.72. Over the previous month, SEI has returned -0.3%.
SOLARIS EGY INF’s consensus EPS estimate for the upcoming report has modified -3.7% over the previous month to $0.13. In comparison with the corporate’s year-ago EPS, this represents a change of -31.6%. SOLARIS EGY INF at the moment boasts a Zacks Rank of #3 (Maintain).
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