Flotek Industries shares fell from $35.83 on August 14, 2026, to $25.17 on August 19 after the Puerto Rico Electric Power Authority terminated a 10-year agreement tied to a 400 MW natural gas-fired power project. The contract had been projected to generate approximately $400 million in revenue backlog and roughly $40 million in annual revenue, but its termination reduced projected project revenue to $0. Lake Street later raised its price target for Flotek to $44, implying 65% upside from a current price of $26.68. Levi & Korsinsky, LLP said it filed a securities class action in the United States District Court for the Southern District of New York on behalf of investors who purchased Flotek securities between August 3 and August 17, 2026. The complaint alleges that Flotek did not disclose credible risks involving the consortium responsible for the project, including concerns about its experience, organization and financial capacity, as well as the fact that third parties were expected to provide approximately 90% of generation capacity and execution. The Financial Oversight and Management Board for Puerto Rico voted to revoke contract approval and directed PREPA to terminate the agreement under Section 204 of PROMESA, after which PREPA issued immediate termination notice. Investors seeking appointment as lead plaintiff must file by October 26, 2026.