Diversified Energy, JanOne among energy and utility sector additions in Russell Microcap; ESS Tech, Aqua Metals removed
Written by Emily J. Thompson, Senior Investment Analyst
Source: SeekingAlpha
- Russell Microcap Index Reconstitution:
- Preliminary list of additions and deletions released for annual reconstitution.
- About 213 securities expected to be added, 198 to be deleted.
- New indexes will take effect after market close on June 28, 2024.
- Energy Companies Changes:
- Notable additions include Diversified Energy, Drilling Tools International, Flotek Industries, Freyr Battery, Kolibri Global Energy.
- Notable deletions include ESS Tech, FTC Solar, Gevo, Helix Energy Solutions, Independence Contract Drilling.
- Utility Companies Changes:
- Notable additions include JanOne, Vivakor.
- Notable deletions include Aqua Metals, Artesian Resources.
Analyst Views on FTK
Wall Street analysts forecast FTK stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for FTK is 19.50 USD with a low forecast of 19.00 USD and a high forecast of 20.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
2 Analyst Rating
2 Buy
0 Hold
0 Sell
Moderate Buy
Current: 16.070
Low
19.00
Averages
19.50
High
20.00
Current: 16.070
Low
19.00
Averages
19.50
High
20.00
About FTK
Flotek Industries, Inc. is a chemistry and data technology company focused on servicing the energy industry. It seeks to provide sustainable and optimized chemistry and data technology solutions for both domestic and international energy markets. Its segments include Chemistry Technologies (CT) and Data Analytics (DA). Its CT segment designs, develops, manufactures, packages and distributes specialty chemicals that help customers improve their return on invested capital, lower operational costs and realize tangible environmental benefits aimed at enhancing the profitability of hydrocarbon producers. DA segment provides analytical measurement solutions. The segment seeks to deliver real-time information and insights to its customers to enable optimization of operations and reduction of emissions and their carbon intensity. The segment also offers a turnkey solution, leveraging its real-time measurement technology to treat and optimize fuels used in remote power generation applications.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
