Short interest in Flotek Industries

Short interest in Flotek Industries (FTK) as a percentage of its float was 20.3% on October 16, 2017, compared to 22.8% on June 30, 2017. Since June 30, short interest in FTK has decreased 11%. Since June 30, FTK’s stock price has decreased 47%.

So, investors’ negative bets on FTK have decreased since June 30, 2017, and fewer investors expect the stock’s price to fall. FTK’s stock price and short interest as a percentage of float have mostly been inversely related since October 2015.

A Look at Short Interest in Flotek Industries on October 16

Flotek Industries constitutes 0.07% of the iShares Micro-Cap ETF (IWC). IWC has risen 5% since June 30, 2017. The S&P 500 Index (SPX-INDEX) has risen 6% since June 30, 2017.

Did crude oil price affect investors’ sentiment?

Crude oil prices have turned bullish since June 2017, rising 12% from June 30 until October 16. Investors’ sentiment toward the energy market has strengthened over the past three months, which has positively affected many oilfield services companies’ stock prices since June.

FTK, however, has seen its stock price fall since June 30, resulting from cost inflation and the negative effects of recent natural disasters.

Short interest in Flotek Industries’ peers

Since June 30, 2017, short interest in Basic Energy Services (BAS) has decreased 36%, while its stock price has fallen 24%.

Since June 30, short interest in Superior Energy Services (SPN) has decreased 37%, while its stock price has fallen 4%.

Short interest in Key Energy Services (KEG) has decreased 26% since June 30, while its stock price fell 37% during this period. Investors’ negative bets on BAS, KEG, and SPN have decreased since June 30.

Has Flotek Industries’ correlation with crude oil prices changed in the past year? We’ll explore this topic in the next part of this series.

Latest articles

Broadcom (AVGO) stock fell ~8.5% after markets closed yesterday following the semiconductor giant's fiscal 2019 second-quarter earnings release. It missed analysts' revenue estimate and cut its fiscal 2019 revenue guidance by $2 billion to $22.5 billion due to sluggishness in its semiconductor solutions business.

The SPDR Gold Shares ETF (GLD), which tracks physical gold prices, has underperformed the broader markets year-to-date, rising just 4.4% compared to the S&P 500’s (SPY) gain of 15.9% as of June 14. The sentiment for gold, however, has been turning around.

Safe havens such as Treasuries and gold were back in favor on June 14 as stocks fell due to rising tensions in the Middle East, concerns over growth, and the looming threat of the US-China trade war. The tech-heavy Nasdaq Composite Index fell 0.67% in the first hour of trading.

Lululemon (LULU) stock rose 2.1% on June 13 in reaction to better-than-expected first-quarter results and an upgraded outlook for fiscal 2019 overall. The company's first-quarter adjusted EPS grew 34.5% to $0.74 on revenue growth of 20.4% to $782.32 million. Analysts had expected EPS of $0.70 and revenue of $755.31 million. Here's why the outlook got an upgrade.

14 Jun

IEA Again Slashes Its Oil Demand Growth Estimate

WRITTEN BY Rabindra Samanta

As of 4:40 AM Eastern Time today, US crude oil active futures were at $51.83, ~4% below their closing level in the previous week. If US crude oil prices stay at those levels today, they'll mark their third week of decline in five weeks.

Amazon is discontinuing its Amazon Restaurants service, which has been delivering food for restaurants in parts of the United States. Amazon Restaurants launched in the United States in 2015 and entered the British market the following year. However, it met strong opposition in the British market.

172.31.38.64