Roth Capital Upgrades Flotek Industries (NYSE:FTK) to Strong-Buy

Roth Capital upgraded shares of Flotek Industries (NYSE:FTK) to a strong-buy rating in a report issued on Thursday, Zacks.com reports.

Several other equities analysts also recently commented on FTK. Alliance Global Partners started coverage on Flotek Industries in a research report on Monday, April 29th. They issued a buy rating and a $7.00 target price for the company. Roth Mkm began coverage on shares of Flotek Industries in a research report on Thursday. They set a buy rating and a $6.50 target price on the stock. One equities research analyst has rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of Buy and a consensus target price of $6.75.

Flotek Industries Price Performance

Shares of FTK opened at $4.59 on Thursday. The firm has a 50 day simple moving average of $4.53 and a two-hundred day simple moving average of $3.74. Flotek Industries has a one year low of $2.64 and a one year high of $5.70. The company has a market cap of $136.14 million, a P/E ratio of 114.72 and a beta of 1.08.

Flotek Industries (NYSE:FTK) last posted its quarterly earnings results on Tuesday, May 7th. The oil and gas company reported $0.05 EPS for the quarter. Flotek Industries had a return on equity of 1.77% and a net margin of 2.73%. The company had revenue of $40.37 million during the quarter. On average, analysts expect that Flotek Industries will post 0.26 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of FTK. Segment Wealth Management LLC purchased a new stake in Flotek Industries in the 4th quarter valued at $241,000. Pingora Partners LLC bought a new stake in shares of Flotek Industries in the 4th quarter worth $46,000. Masters Capital Management LLC raised its holdings in shares of Flotek Industries by 44.4% in the fourth quarter. Masters Capital Management LLC now owns 481,476 shares of the oil and gas company’s stock valued at $1,887,000 after purchasing an additional 148,140 shares during the last quarter. Sanders Morris Harris LLC bought a new position in shares of Flotek Industries during the first quarter valued at about $223,000. Finally, Vanguard Group Inc. boosted its holdings in Flotek Industries by 7.9% during the first quarter. Vanguard Group Inc. now owns 545,246 shares of the oil and gas company’s stock worth $2,039,000 after purchasing an additional 39,695 shares during the last quarter. Institutional investors own 10.90% of the company’s stock.

Flotek Industries Company Profile

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).