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

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

A number of other research firms have also recently issued reports on FTK. Alliance Global Partners initiated coverage on Flotek Industries in a research note on Monday, April 29th. They issued a buy rating and a $7.00 target price on the stock. Roth Mkm initiated coverage on shares of Flotek Industries in a research report on Thursday. They issued a buy rating and a $6.50 price objective on the stock. One analyst has rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of Buy and a consensus target price of $6.75.

Flotek Industries Stock Performance

Flotek Industries stock opened at $4.59 on Thursday. Flotek Industries has a 1 year low of $2.64 and a 1 year high of $5.70. The firm’s 50-day moving average is $4.53 and its 200-day moving average is $3.74. 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 issued its earnings results on Tuesday, May 7th. The oil and gas company reported $0.05 EPS for the quarter. The company had revenue of $40.37 million during the quarter. Flotek Industries had a return on equity of 1.77% and a net margin of 2.73%. As a group, sell-side analysts predict that Flotek Industries will post 0.26 earnings per share for the current year.

Hedge Funds Weigh In On Flotek Industries

Several hedge funds have recently modified their holdings of FTK. Pingora Partners LLC acquired a new position in Flotek Industries during the fourth quarter worth about $46,000. Sanders Morris Harris LLC bought a new position in shares of Flotek Industries during the 1st quarter valued at about $223,000. Segment Wealth Management LLC acquired a new position in shares of Flotek Industries in the 4th quarter worth approximately $241,000. Masters Capital Management LLC raised its holdings in shares of Flotek Industries by 44.4% in the 4th quarter. Masters Capital Management LLC now owns 481,476 shares of the oil and gas company’s stock worth $1,887,000 after purchasing an additional 148,140 shares in the last quarter. Finally, Vanguard Group Inc. lifted its stake 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 during the last quarter. 10.90% of the stock is currently owned by institutional investors and hedge funds.

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).