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

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

Other analysts also recently issued reports about the stock. Roth Mkm assumed coverage on shares of Flotek Industries in a report on Thursday. They set a buy rating and a $6.50 price target on the stock. Alliance Global Partners assumed coverage on shares of Flotek Industries in a report on Monday, April 29th. They set a buy rating and a $7.00 price target on the stock. One investment analyst has rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of Buy and an average target price of $6.75.

Flotek Industries Price Performance

FTK stock opened at $4.51 on Thursday. The firm’s fifty day simple moving average is $4.49 and its 200-day simple moving average is $3.73. Flotek Industries has a 12 month low of $2.64 and a 12 month high of $5.70. The company has a market capitalization of $133.77 million, a P/E ratio of 112.72 and a beta of 1.08.

Flotek Industries (NYSE:FTK) last announced its quarterly earnings results on Tuesday, May 7th. The oil and gas company reported $0.05 earnings per share (EPS) for the quarter. Flotek Industries had a net margin of 2.73% and a return on equity of 1.77%. The firm had revenue of $40.37 million for the quarter.

Hedge Funds Weigh In On Flotek Industries

Several hedge funds and other institutional investors have recently added to or reduced their stakes in FTK. Pingora Partners LLC purchased a new position in Flotek Industries during the fourth quarter valued at $46,000. Sanders Morris Harris LLC purchased a new position in Flotek Industries during the first quarter valued at $223,000. Segment Wealth Management LLC purchased a new position in Flotek Industries during the fourth quarter valued at $241,000. Masters Capital Management LLC lifted its holdings in Flotek Industries by 3.8% during the first quarter. Masters Capital Management LLC now owns 500,000 shares of the oil and gas company’s stock valued at $1,870,000 after purchasing an additional 18,524 shares in the last quarter. Finally, Vanguard Group Inc. lifted 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 valued at $2,039,000 after purchasing an additional 39,695 shares in the last quarter. 10.90% of the stock is owned by hedge funds and other institutional investors.

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).