Flotek Industries (FTK) Is Today's Dead Cat Bounce Stock

Editor's Note: Any reference to TheStreet Ratings and its underlying recommendation does not reflect the opinion of TheStreet, Inc. or any of its contributors including Jim Cramer.

Trade-Ideas LLC identified Flotek Industries ( FTK) as a "dead cat bounce" (down big yesterday but up big today) candidate. In addition to specific proprietary factors, Trade-Ideas identified Flotek Industries as such a stock due to the following factors:

  • FTK has an average dollar-volume (as measured by average daily share volume multiplied by share price) of $20.9 million.
  • FTK has traded 934,872 shares today.
  • FTK is up 3.8% today.
  • FTK was down 5.8% yesterday.

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More details on FTK:

Flotek Industries, Inc. develops and supplies oilfield products, services, and equipment to the oil, gas, and mining industries in the United States and internationally. FTK has a PE ratio of 17. Currently there are 2 analysts that rate Flotek Industries a buy, 1 analyst rates it a sell, and 1 rates it a hold.

The average volume for Flotek Industries has been 1.0 million shares per day over the past 30 days. Flotek has a market cap of $677.1 million and is part of the basic materials sector and energy industry. The stock has a beta of 1.73 and a short float of 20.2% with 4.90 days to cover. Shares are down 36.4% year-to-date as of the close of trading on Tuesday.

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