Flotek Industries (FTK) Surges 11.0%: Is This an Indication of Further Gains?

Flotek Industries (FTK) shares soared 11% in the last trading session to close at $17.67. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 41.4% gain over the past four weeks.The surge can be attributed to Flotek’s specialization in green chemistry, which provides innovative solutions aimed at reducing the environmental impact of the energy industry. Governments and energy companies worldwide are increasingly focusing on reducing the emissions and the environmental impact of the industryand Flotek aligns with this global trend by offering unique solutions designed to address these challenges. The company develops specialty chemicals tailored for both domestic and international energy producers, as well as oilfield service companies. These chemicals not only help reduce the environmental impact of hydrocarbon production but also lower operational costs and have been significant growth drivers for the company.This oilfield services company is expected to post quarterly earnings of $0.15 per share in its upcoming report, which represents a year-over-year change of +87.5%. Revenues are expected to be $49.85 million, up 0.2% from the year-ago quarter.While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.For Flotek Industries, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on FTK going forward to see if this recent jump can turn into more strength down the road. The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>Flotek Industries is a member of the Zacks Oil and Gas - Field Services industry. One other stock in the same industry, ProFrac Holding Corp. (ACDC), finished the last trading session 1.2% higher at $4.22. ACDC has returned 8.6% over the past month.For ProFrac Holding Corp., the consensus EPS estimate for the upcoming report has remained unchanged over the past month at -$0.34. This represents a change of -161.5% from what the company reported a year ago. ProFrac Holding Corp. currently has a Zacks Rank of #5 (Strong Sell).5 Stocks Set to DoubleEach was handpicked by a Zacks expert as the #1 favorite stock to gain +100% or more in the coming year. While not all picks can be winners, previous recommendations have soared +112%, +171%, +209% and +232%.Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.Today, See These 5 Potential Home Runs >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Flotek Industries, Inc. (FTK): Free Stock Analysis Report ProFrac Holding Corp. (ACDC): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks