Flotek Industries (NYSE:FTK) Stock Price Expected to Rise, Roth Mkm Analyst Says

Flotek Industries (NYSE:FTK) had its target price lifted by stock analysts at Roth Mkm from $6.50 to $8.00 in a research note issued on Thursday,Benzinga reports. The firm currently has a “buy” rating on the oil and gas company’s stock. Roth Mkm’s price objective suggests a potential upside of 14.78% from the stock’s previous close.

Separately, Roth Capital upgraded shares of Flotek Industries to a “strong-buy” rating in a research note on Thursday, July 25th.

Flotek Industries Stock Performance

FTK stock traded up $0.41 on Thursday, reaching $6.97. The company’s stock had a trading volume of 317,127 shares, compared to its average volume of 89,872. Flotek Industries has a 12-month low of $2.64 and a 12-month high of $7.24. The firm has a market cap of $207.78 million, a PE ratio of 26.81 and a beta of 1.04. The business has a fifty day simple moving average of $4.94 and a two-hundred day simple moving average of $4.48.

Flotek Industries (NYSE:FTK) last announced its earnings results on Monday, November 4th. The oil and gas company reported $0.08 EPS for the quarter, beating analysts’ consensus estimates of $0.07 by $0.01. The firm had revenue of $49.74 million for the quarter, compared to analysts’ expectations of $50.40 million. Flotek Industries had a net margin of 4.58% and a return on equity of 7.76%. During the same quarter in the previous year, the business posted $0.04 EPS. As a group, research analysts anticipate that Flotek Industries will post 0.27 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the business. Sanders Morris Harris LLC purchased a new stake in Flotek Industries during the 3rd quarter valued at $137,000. Masters Capital Management LLC boosted its stake in shares of Flotek Industries by 3.8% during the 1st quarter. Masters Capital Management LLC now owns 500,000 shares of the oil and gas company’s stock worth $1,870,000 after purchasing an additional 18,524 shares during the period. Finally, Vanguard Group Inc. grew its holdings in Flotek Industries by 7.9% during the 1st 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 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).