Flotek Industries (NYSE:FTK) Upgraded at Singular Research

Singular Research upgraded shares of Flotek Industries (NYSE:FTK) to a moderate buy rating in a research note released on Monday,Zacks.com reports.

Flotek Industries Stock Down 1.1 %

Shares of FTK stock opened at $9.40 on Monday. The stock has a market cap of $280.26 million, a price-to-earnings ratio of 36.14 and a beta of 1.21. Flotek Industries has a fifty-two week low of $3.13 and a fifty-two week high of $10.35. The firm’s 50 day moving average price is $8.59 and its two-hundred day moving average price is $7.24.

Flotek Industries (NYSE:FTK) last announced its quarterly earnings results on Monday, March 10th. The oil and gas company reported $0.14 earnings per share for the quarter, beating analysts’ consensus estimates of $0.10 by $0.04. The firm had revenue of $50.76 million for the quarter, compared to analysts’ expectations of $50.08 million. Flotek Industries had a net margin of 4.58% and a return on equity of 7.76%. During the same period in the previous year, the company posted $0.07 earnings per share. On average, equities analysts forecast that Flotek Industries will post 0.29 EPS for the current fiscal year.

Institutional Trading of Flotek Industries

A number of hedge funds have recently made changes to their positions in FTK. Tower Research Capital LLC TRC purchased a new stake in shares of Flotek Industries during the fourth quarter valued at approximately $42,000. XTX Topco Ltd purchased a new stake in shares of Flotek Industries during the third quarter valued at approximately $53,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Flotek Industries during the fourth quarter valued at approximately $57,000. Wilmington Savings Fund Society FSB purchased a new stake in shares of Flotek Industries during the third quarter valued at approximately $60,000. Finally, Barclays PLC purchased a new stake in shares of Flotek Industries during the third quarter valued at approximately $66,000. Hedge funds and other institutional investors own 10.90% of the company’s stock.

About Flotek Industries

Flotek Industries, Inc operates as a technology-driven green chemistry and data company that serves customers across industrial and commercial markets in the United States, the United Arab Emirates, and internationally. It operates through two segments: Chemistry Technologies (CT) and Data Analytics (DA).