FTK - Flotek fair value for potential takeover seen at $2.50 by Noble analyst

Flotek Industries (FTK +50.9%) skyrockets as much as 62% after saying after yesterday's close that it received an unsolicited indication of interest for all or part of the company. Flotek recently has taken steps it believes will lead to a higher valuation but that it could consider a takeout if the price is right, Noble Capital analyst Michael Heim says, according to Street Insider. Heim thinks $2.50/share is the fair value of Flotek and thinks any takeout offer must be significantly higher than the recent ~$0.75 market price. Earlier this month, Flotek received notice from the NYSE that the stock's average closing price came in below $1.00 over 30 consecutive trading days, failing to meet the exchange's continued listing requirement.

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Flotek fair value for potential takeover seen at $2.50 by Noble analyst